VANCOUVER, British Columbia – (BUSINESS WIRE) – November 26, 2021–
Readable Inc., formerly Twenty20 Investments Inc. (the “” Society ” Where ” Legible “), is pleased to announce that it has finalized its previously announced transaction (the” Transaction “) with Lisible Media Inc. (” Readable media ”), By which the Company acquired all the issued and outstanding securities of Legible Media.
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Legible is a new browser-based eBook reading platform that is revolutionizing the way readers, publishers, and authors connect by presenting books the way they are meant to be enjoyed. Founded by a team of authors, eBook publishers, designers and publishing industry insiders, Legible’s strategy is to provide readers around the world with open access to millions of books on any device connected to the Internet. Legible’s core values - accessibility, sustainability, beauty and integrity – inform its continued commitment and active engagement in promoting literacy, justice, equity, diversity, inclusion and a climate-conscious future around the world. Visit Legible.com and see where eBooks come to life! (Graphic: Business Wire)
Following the Transaction, the Company changed its name to “Legible Inc.”, and Legible Media became a wholly owned subsidiary of the Company. At the conclusion of the transaction, the Company has 62,800,000 common shares outstanding, of which approximately 7.3% are held by former shareholders of Twenty20 and approximately 92.7% by former shareholders of Legible Media.
Full details of the Company, including the Transaction, will be set out in the Company’s listing statement dated on or around November 26, 2021 (the “” Declaration of registration “). A copy of the registration statement will be available under the firm’s profile on SEDAR at www.sedar.com.
Kaleeg Hainsworth, CEO of the newly combined Legible Inc., said: “On behalf of the shareholders of Legible Media, I would like to say how grateful and excited we are to complete this transaction with Twenty20. I would also like to thank all the employees and shareholders of Legible Media and Twenty20, in particular all those who worked tirelessly to complete this Transaction, as well as the legal advisor of Legible Media, DLA Piper (Canada) LLP., Adviser financier of Legible Media, Merchant Equities Capital Corp. and Twenty20’s legal advisor, EnerNext Counsel, for their advice and support in successfully closing this Transaction.
Pursuant to the transaction, Kaleeg Hainsworth, CEO and director of Legible acquired 17,000,700 common shares (representing 27.07% of the issued and outstanding common shares). Prior to the closing of the Transaction, Mr. Hainsworth did not hold any securities in the Company. Mr. Hainsworth may increase or decrease his investment in Legible depending on market conditions or any other relevant factor. Lisible’s head office address is 2230 Ontario Street, Vancouver, BC V5T 2X2. Mr. Hainsworth’s address is 2230 Ontario Street, Vancouver, BC V5T 2X2.
The CSE (operated by CNSX Markets Inc.) has in no way acknowledged the merits of the transaction and has neither approved nor disapproved the contents of this press release.
This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ” US Securities Act “), or the securities laws of any state of the United States and may not be offered or sold in the United States (as defined in Regulation S under the US Securities Act) unless they are are registered under the US Securities Act and applicable state securities laws or under an exemption from such registration requirements .
About Lisible Inc .:
Legible is a new browser-based eBook reading platform that is revolutionizing the way readers, publishers, and authors connect by presenting books the way they are meant to be enjoyed. Founded by a team of authors, eBook publishers, designers and publishing industry insiders, Legible’s strategy is to provide readers around the world with open access to millions of books on any device connected to the Internet. Legible’s core values - accessibility, sustainability, beauty and integrity – inform its continued commitment and active engagement in the promotion of literacy, justice, equity, diversity, inclusion and a climate-conscious future around the world.
Investors are invited to visit Legible’s curated Staff-Picks Library: https://legible.com/bookshelf?bookshelfId=26b31d56-e75d-414e-99ae-8852d1990010.
Visit Readable.com and find out where eBooks come to life!
Certain statements contained in this press release are forward-looking statements and are forward-looking in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections regarding future events, many of which, by their nature, are inherently uncertain and beyond the control of the Company and are therefore subject to change. risks and uncertainties. which could cause a material difference between the actual results and the future results expressed or implied by the forward-looking statements. These statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “may”, “intend”, “estimate”, “plan”, “anticipate” , “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements contained in this press release include, without limitation, expectations regarding the effects of the Transaction or the ability of the combined company to successfully achieve its business objectives, and expectations regarding other economic, business and / or competitive factors. These assumptions and factors are based on information currently available to the Company Although the management of the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that make the results not as expected, estimated or expected. Among the key factors that could cause actual results to differ materially from those projected in forward-looking information and statements include the potential impact of the announcement of the completion of the Transaction on relationships, including with regulatory bodies. regulation, employees, suppliers, customers and competitors; changes in economic, trade and general political conditions, including changes in financial markets; changes in applicable laws; And the diversion of management time on the Transaction. If one or more of these risks, uncertainties or other factors materialize, or if the assumptions underlying the forward-looking information or statements prove to be incorrect, actual results may differ materially from those described in this document as being expected, planned , anticipated, raw, estimated or expected. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements and forward-looking information. The forward-looking information contained in this press release is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking statements or forward-looking information which are incorporated by reference herein, whether due to new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained in this document. All subsequent written and oral forward-looking information and statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by this notice.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211126005611/en/
CONTACT: Readable inc.
Head of Investor Relations
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: MOBILE / WIRELESS ENTERTAINMENT COMMUNICATION TECHNOLOGY BOOK EDITING
SOURCE: readable inc.
Copyright Business Wire 2021.
PUB: 11/26/2021 8:38 PM / DISC: 11/26/2021 8:38 PM