An anonymous director reports

REKLAIM COMPLETES CONVERTIBLE DEBENTURE FINANCING TO ACCELERATE GROWTH OF REKLAIM PROTECT

Reklaim Ltd. has completed a non-brokered private placement of convertible debenture units totalling $500,000 to certain accredited investors.

Proceeds from the offering will be used primarily to support the continued expansion of Reklaim Protect, the company's subscription platform that enables consumers to monitor, remove and safeguard their personal data across the Internet. Sign up for a 30-day free trial of Reklaim Protect on-line and have your data removed from over 600 data brokers.

Each debenture unit consists of one senior secured convertible debenture and such number of common share purchase warrants in the capital of the company equal to 50 per cent of the common shares issuable upon conversion of the principal of the debenture.

The debentures:

• Accrue interest at a rate of 12.0 per cent per annum, calculated and payable quarterly in either cash or shares, at the election of the holder;
• Mature 36 months from the date of closing;
• Are convertible into shares at 10.5 cents per share, in accordance with the debenture terms.

The company retains the right to repay the debentures early. Each warrant entitles the holder to purchase one share at an exercise price of 14 cents for 36 months from issuance. Reklaim also retains a forced conversion right should the shares trade at a volume weighted average price (VWAP) of 20 cents or higher for 10 consecutive trading days on the TSX Venture Exchange.

If the company repays the principal during the first year, half of the warrants will expire immediately upon repayment and the remaining half will expire one year after the closing date. A total of 2,380,952 warrants were issued under the offering.

No commissions or finders' fees were paid in connection with the offering. The offering remains subject to final approval by the TSX Venture Exchange and all securities issued under it are subject to a four-month hold period, plus one day, in accordance with applicable securities laws.

About Reklaim Ltd.

Reklaim provides compliant, consumer-permissioned data to Fortune 500 brands, platforms and data companies, empowering individuals to take control of their personal information. By visiting Reklaim, users can verify their identity and discover data that have been collected and sold without their explicit consent. Through a Reklaim account, consumers can choose to monetize their data or safeguard it using Reklaim's growing suite of privacy tools, including Reklaim Protect.

We seek Safe Harbor.