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Kabn North America Announces Non-Brokered Private Placement Financing for up to $2.0 Million

KABN | Cara Buckspan | Dec 10, 2020

KABN funding announcement - Kabn North America Announces Non-Brokered Private Placement Financing for up to $2.0 Million

TORONTO, ON / ACCESSWIRE / December 10, 2020 / KABN Systems NA Holdings Corp. (CSE:KABN) (the "Company" or "KABN North America" or "KABN NA"), a Canadian Fintech company that specializes in continuous online identity verification, management and monetization in Canada and the U.S., is pleased to announce that it has received interest for up to $2 Million of units ("Units") pursuant to a non-brokered financing (the "Non-Brokered Offering"), which will close prior to the unrelated, best efforts brokered private placement ("Brokered Offering") of units which the Company previously announced on December 7, 2020.

The gross proceeds of these unrelated offerings together will be up to $3.15 Million. The Units in each of the Brokered Offering and Non-Brokered Offering are being offered at $0.15 per Unit, with each Unit comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") at an exercise price of $0.20 per Warrant Share for a period of 24 months from the applicable closing.

See:  Liquid Avatar and The KABN Network Launch Cloud-based Biometric Identity Verification for Self Sovereign Identity, Digital Wallets and Verified Credentials

The Brokered Offering is expected to close on or about December 29, 2020, or on such earlier date as agreed upon between the Company and Agent, and the Non-Brokered Offering is expected to close on or about December 21, 2020, or on such earlier date as the Company determines, and each is subject to certain conditions, including receipt of subscription agreements and payment of the subscription amounts by subscribers. The Units to be issued will have a hold period of four months and one day from the applicable closing.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About KABN North America
KABN Systems NA Holdings Corp. through its wholly owned subsidiary KABN Systems North America Inc. focuses on the verification, management and monetization of digital identity, empowering users to control and benefit from the use of their online identity.

For more information, please visit www.kabnnaholdco.com or www.kabnsystemsna.com

KABN Systems NA Holding Corp. is a publicly listed company listed on the Canadian Securities Exchange under the symbol "KABN."

For further information, please contact:
David Lucatch
647-725-7742 Ext. 701
ir@kabnsystemsna.com

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