An anonymous director reports

REKLAIM LTD. STRENGTHENS BALANCE SHEET WITH 18% DEBT REDUCTION

Reklaim Ltd. has reduced its overall debt by 18 per cent, fully financed by existing cash flow. This reduction highlights Reklaim's disciplined financial management and commitment to shareholder value.

Separate from the debt reduction, Reklaim has completed a non-brokered private placement of convertible debenture units totalling $465,400 to accredited investors, replacing an existing outstanding facility. Each debenture unit consists of one senior secured convertible debenture and one-half of a warrant. This transaction does not create new debt but refinances and replaces existing debentureholders.

The debentures accrue interest at a rate of 12.0 per cent per annum, are payable semi-annually and mature in 2027. The company reserves the right to repay the debentures early.

Each warrant entitles the holder to purchase one common share at an exercise price of 14 cents per share for 24 months from the date of issue. Reklaim retains a forced conversion right should the shares trade at a VWAP (volume-weighted average price) of 20 cents or higher on the TSX Venture Exchange for 10 consecutive trading days. A total of 2,216,190 warrants were issued under the offering.

No commissions or fees are payable by the company in connection with the offering. The offering remains subject to final approval by the TSX-V, and all securities issued under the offering are subject to a hold period of four months plus one day, in accordance with applicable securities laws.

Additional information

The company has also agreed to issue 16,380 common shares at a price of 11 cents per share to certain platform users in Canada who participated in Reklaim's beta testing for a new product feature. The total value of this settlement is $1,800.

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