Year over Year Revenue Increases Q3 +36%, Q4 +165%, Q1 +160%
TORONTO, CANADA – May 14, 2019 – ARHT Media Inc. (“ARHT” or the “Company”) (TSXV:ART), the global leader in the development, production and distribution of high-quality hologram content through its patented Holographic Telepresence technology, is pleased to announce that, further to its press release on May 2, 2019, the Company has closed the private placement (the “Private Placement”) of Series 2019-A 12% secured debentures denominated at $1,000 (the “Debentures”) by issuing Debentures for total gross proceeds of $800,000. The Debentures will be secured against the assets of the Company and will bear interest at the rate of 12% per annum. The Debentures will mature on the earlier of: (i) 12 months from the date of issuance; and (ii) the date upon which ARHT completes a private placement financing raising gross proceeds of no less than CAD$2 million. The Debentures may be prepaid by the Company at any time without penalty, provided that a minimum of four months’ interest will be payable by the Company. The Company has also issued 1,120,000 warrants to the holders of the Debentures, being 1,400 warrants per $1,000 principal amount of Debenture. Each warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.21 for a period of 12 months.
All securities issued pursuant to the Private Placement are subject to a four month and one day hold period in accordance with applicable securities laws. The net proceeds from the Private Placement will be used to assist the Company to put on events, acquire equipment and for general working capital purposes. The Private Placement is subject to the final approval of the TSX Venture Exchange (the “TSXV”).
The Company would like to clarify that year-over-year Q1 2019 revenue was 260% of Q1 revenue from the prior year, for an increase of 160%. The Company reported an increase in revenue of 260% in a press release dated May 8, 2019. The actual revenue numbers reported were accurate.
About ARHT Media
ARHT Media’s patented holographic telepresence technology is a complete end-to-end solution that creates a sense of presence for audiences – as though the holographic presenter was actually live in the room. With no noticeable latency, ARHT Media creates two-way live communication with a 3D holographic presenter anywhere in the world possible. We can also playback pre-recorded content and 3D animations on our displays to deliver rich holographic experiences.
ARHT Media trades under the symbol “ART” on the TSX Venture Stock Exchange.
ARHT Media Press Contact
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, disclosure related to the Debenture financing; the use of proceeds of the Debenture; the Company’s technology; the potential uses for the Company’s technology; the future planned events using the Company’s technology; the future success of the Company; the ability of the Company to monetize the HumaGram™ technology; the development of the Company’s technology; and interest from parties in ARHT’s products. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities 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 may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
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