Subject: Please disseminate attached News Release. ASAP
PDF Document
File: Attachment 2024.03.11 News Release-3rd closing PP and SFD-FINAL.pdf
FOR IMMEDIATE RELEASE
Inverite Announces 3rd Tranche Closing of Private Placement and
Intends to Close Shares For Debt Issuance.
Vancouver B.C. March 11, 2024 Inverite Insights Inc. ("Inverite") (CSE: INVR) (OTC: INVRF) (FSE: 2V0), is a leading AI-
driven software provider utilizing real-time financial data to empower businesses to transact more effectively
with consumers has closed its 3rd tranche of its private placement (see news release of January 30, 2024) in the
amount of 2,596,600 Units for aggregate proceeds of $129,830. Each Unit is comprised of a common share and one
whole warrant, a whole warrant exercisable to purchase a common share at a price of $0.10 for a period of two
years. All securities issued are subject to a hold period until July 12, 2024.
Insiders of the Company purchased 2,596,600 Units, representing the total number of Units issued pursuant to the
closing, with the associated common shares representing approximately 1.3% of the then-issued common shares
following closing and, if the associated warrants are exercised, an aggregate number of common shares representing
approximately 2.6% of the then-issued common shares following closing. The participation by the insider constitutes
a "related party transaction" within the meaning of the policies of the CSE and Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying upon
the exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections
5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101 on the basis that neither the fair market value of the subject
matter of, nor the fair market value of the consideration for, the transaction insofar as it involves interested parties
(within the meaning of MI 61-101) in the Placement exceeds 25% of the Company's market capitalization
calculated in accordance with MI 61-101, and on the basis that no securities of the Company are listed or
quoted on a stock exchange as specified in MI 61-101.
The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended
(the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to, or for
the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act), except pursuant to an
exemption from the registration requirements of those laws. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy securities in the United States, or for the account or benefit of U.S.
persons (as such term is defined in Regulation S under the 1933 Act).
The Company also wishes to announce the intention to issue 500,016 common shares (the "Shares") to settle
CAD$25,000.81 in accounts payable to one vendor.
The transaction remains subject to the approval of the CSE. The Shares will be subject to a hold period of
four months from the date of issuance.
About Inverite Insights Inc.
Inverite Insights Inc. ("Inverite") (CSE: INVR) (OTC: INVRF) (FSE: 2V0) is a Vancouver-based, AI-driven software
provider specializing in real-time financial data. With a vast database of over seven billion financial data points from
more than four million unique Canadian consumers transactions, Inverite empowers businesses to transact more
effectively with consumers through innovative solutions for data enrichment, identity, risk management and
compliance.
010025000-00157566; 2
For further information about Inverite, please visit: inverite.com.
ON BEHALF OF THE BOARD
Mike Marrandino, Executive Chairman
T: (855) 661-2390 ext. 104 Email: ir@inverite.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider/Market Maker (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release, nor has in any way passed upon the merits of
the proposed transaction nor approved or disapproved the contents of this press release.
Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of
historical fact, are to be considered forward looking. Although the Company believes that any forward-looking statements in this news release are
reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all
forward-looking statements, are based on assumptions none of which can be assured and are subject to certain risks and uncertainties that
could cause actual events or results to differ materially from those indicated in the forward-looking statements. Such forward-looking
statements represent management's best judgment based on information currently available. Readers are advised to rely on their own evaluation of
such risks and uncertainties and should not place undue reliance on forward-looking statements.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to
update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws or the CSE. The forward-looking statements or information contained in this news release are
expressly qualified by this cautionary statement.
010025000-00157566; 2
© 2024 Canjex Publishing Ltd. All rights reserved.