February 14, 2020 (Source) – Peekaboo Beans Inc. (CSE: BEAN) (OTCQB: PBBSF) (“Peekaboo Beans” or the “Company”) announces that it will offer all holders of common share purchase warrants (the “Warrantholders“) a reduced exercise price of $0.05 on all outstanding common share purchase warrants for a limited period of 20 days (the “Warrant Incentive Program“). The purpose of the Warrant Incentive Program is to provide the Company with a further means of raising additional capital through the potential exercise of these warrants. The Warrant Incentive Program commences today, February 14, 2020 and expires on March 4, 2020.
The Company has received a waiver from the Canadian Securities Exchange (the “CSE“) from the requirement to obtain approval from all of the Warrantholders for the Warrant-Incentive Program. Rather, the Company will make an offer to each of its Warrantholders to accept a reduced exercise price of $0.05 on warrants held during the duration of the Warrant Incentive Program.
The Company currently has 14,806,114 common share purchase warrants outstanding with exercise prices ranging from $0.15 to $1.00 (the “Warrants“). 1,604,914 of the Warrants were set to expire on February 16, 2020, but will be extended for 20 days under the Warrant Incentive Program. Pursuant to the Warrant Incentive Program, the Company will make an offer the Warrantholders to accept a reduced exercise price of $0.05 on the Warrants for a limited period of 20 days. If a Warrantholder does not exercise their Warrants under the Warrant Incentive Program, the Warrants will revert back to their original terms following the 20 day offer period.
About Peekaboo Beans Inc.
Peekaboo Beans is a children’s apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni-channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
To learn more about Peekaboo Beans, visit: www.peekaboobeans.com.
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.