Subject: ANON news release
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File: '\\swfile\EmailIn\20240405 135525 Attachment ANON_20240405_NBPP Update.docx'
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900 - 885 West Georgia Street, Vancouver, BC V6C 3H1
Email: hello@anonintelco.com
Anonymous Intelligence Company Announces
Extension and Amended Terms of Non-Brokered Private Placement
News Release - Vancouver, British Columbia, April 5, 2024 - Anonymous Intelligence Company Inc. (CSE: ANON) (OTC: ANICF) (FRANKFURT: 1JI0) ("ANON" or the "Company"), wishes to announce that it has amended the terms of its non-brokered private placement (the "Amended Offering") previously announced on February 22, 2024. The Amended Offering will now consist of up to 7,400,000 units (the "Units") of the Company at a price of $0.05 per Unit for gross proceeds of up to $370,000.
In addition, the Amended Offering is no longer being made pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106. The securities offered under the Amended Offering will now be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws.
The Company has also received an extension from the Canadian Securities Exchange (the "CSE") to complete the Amended Offering on or before April 22, 2024. The extension will provide sufficient time for certain subscribers to complete all necessary documentation and requirements under the Amended Offering.
The sale of the Units will result in the issuance of more than 100% of the issued and outstanding common shares of the Company. The CSE has approved the Company's reliance on an exemption from the shareholder approval requirements under section 4.6(2) of CSE Policy 4 - Corporate Governance, Security Holder Approvals and Miscellaneous Provisions on the basis that ANON is in serious financial difficulty. The Company's independent directors have determined that the Amended Offering is in the best interests of the Company and is reasonable based on the Company's current financial circumstances. They have also determined that a rights offering to existing securityholders on the same terms would not be feasible to complete. There is no insider participation in the Amended Offering.
The proceeds from the Amended Offering will be used for repayment of an outstanding debt, payment of certain outstanding accounts payable and general working capital purposes.
All other terms of the Amended Offering as announced in the Company's news release dated February 22, 2024 remain the same.
On Behalf of the Board,
ANONYMOUS INTELLIGENCE COMPANY INC.
Nilda Rivera
CFO
(604) 362-5207
About Anonymous Intelligence Company Inc.
Anonymous Intelligence Company Inc. (CSE: ANON) (OTC: ANICF) (FRANKFURT: 1JI0) is a leading computational intelligence, decentralized network, and data technology company. Leveraging its proprietary suite of AI and privacy-enabled products, ANON aims to empower individuals and businesses to have increased confidence in technology. Through its innovative solutions, ANON is committed to delivering cutting-edge technology while prioritizing user privacy and data security. For more information about Anonymous Intelligence Company and its suite of products, please visit www.anonintelco.com.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy of accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Forward-looking statements in this news release may include, but are not limited to, statements relating to those in respect of the Offering, including the size, pricing and timing thereof, the type of securities being offered thereunder, the investors participating therein, the intended use of proceeds therefrom, and the conditions and approvals required and applications being filed in connection therewith. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Certain of these risks are set out in more detail in the Company's Annual Information Form for the financial year ended September 30, 2022, dated as of January 17, 2023 which has been filed on SEDAR and can be accessed at www.sedar.com. The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation or intent to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
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