Legible Inc. Announces Update on Offering of Units
VANCOUVER, British Columbia, Oct. 24, 2024 (GLOBE NEWSWIRE) — Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) (“Legible or “the Company”), a leading platform and innovator in digital literature, announces an update on its previously announced offering (the “Offering”) of units (“Units”). The Company announced the Offering, pursuant to exemptions from applicable securities laws, for the sale of up to 15,000,000 Units at $0.14 per Unit for gross proceeds of $2,100,000. Each Unit consists of one common share (“Common Share(s)”) and one whole Common Share purchase warrant (“Warrant(s)”) with each Warrant entitling the holder to acquire 1 Common Share at a price of $0.14, at any time prior to 5:00 pm (Vancouver time) on the date that is two years from the closing date. If the volume weighted average trading price of the Common shares is at least $0.40 per Common Share for a period of 5 consecutive trading days, the expiry date of the Warrants may be accelerated by the Company to a date that is not less than 14 days after the date that notice of such acceleration is provided to the Warrant holders by way of a press release.
Impact on You
As an individual investor, this Offering could present an opportunity for you to invest in a dynamic and innovative company like Legible Inc. at a relatively low entry point. With the potential for the value of the Warrants to increase if the trading price of the Common Shares surpasses $0.40, there is a possibility for significant returns on your investment.
Impact on the World
On a larger scale, Legible Inc.’s Offering of Units signifies a growing interest and investment in the digital literature industry. As digital platforms continue to shape the way we consume and interact with literature, this move by Legible Inc. could contribute to the evolution and expansion of digital publishing, making literary content more accessible and engaging for readers worldwide.
Conclusion
Overall, Legible Inc.’s update on its Offering of Units represents a strategic move towards growth and innovation in the digital literature space. Whether you’re an individual investor looking to capitalize on this opportunity or a reader excited about the future of digital publishing, this development is certainly one to keep an eye on.
