(via TheNewswire)
Contract Assumption Will Add
VSBLTY’s wholly-owned subsidiary, VSBLTY SPV I, LLC, will assume the balance of the debt of approximately
In connection with the transaction with CCC, VSBLTY has agreed to issue 4.8M 3 year warrants with an exercise price of
In addition, the members of the Winkel Media joint venture have agreed to finalize a contract extension that will allow the amortization of the debt over a longer period and will increase the revenues associated with the contract.
On Behalf of the Board of
"Jay Hutton”
CEO & Director
Investor Relations
Harbor Access
Jonathan.Paterson@Harbor-Access.com
Graham.Farrell@Harbor-Access.com
CONTACT:
lrosanio@vsblty.net
About VSBLTY (http://vsblty.net/)
Headquartered in
FORWARD LOOKING INFORMATION STATEMENT
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the management’s best estimates and cannot be guaranteed or relied upon and is forward-looking information. 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. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.
Financial Outlook
This news release also contains future-oriented financial information and financial outlook (collectively, “FOFI”) about the Company’s projected revenue and margins from its agreement with Creative Climate Capita and the expansion of the contractual service elements with Winkel Media, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. Although the financial projections contained in this news release are based on reasonable expectations developed by the Company’s management, the assumptions and estimates underlying the financial projections are subject to significant business, economic, and competitive uncertainties and contingencies, many of which will be beyond the control of the Company. The assumptions used by the Company’s management to derive these financial projections include: (i) the Company’s ability to successfully deliver on the additional services elements defined by the contract; (ii) the Company’s pricing targets remaining in place and cost of sales and expenses being consistent with VSBLTY’s historical performance; (iii) the Company’s partners’ timely payment pursuant to the contract delivery .Accordingly, the financial projections are only estimates and are necessarily speculative in nature. It is expected that some – and perhaps all – of the assumptions in the financial projections will not be realized and that actual results will vary from the projections.
FOFI contained in this news release was prepared using the same accounting principles that the Company expects to use in preparing its financial statements for the applicable periods covered by such FOFI. FOFI contained in this news release was made by management as of the date of this news release and was provided for the purpose of providing readers with an understanding of the potential significance of these business developments to the Company’s business, and are not an estimate of profitability or any other measure of financial performance. In particular, revenue estimates do not take into account the cost of such estimated revenue, including the cost of goods and the cost of sales. In addition, and for greater certainty, revenueestimates do not take into account the operating costs of the Company. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein.
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Copyright (c) 2024 TheNewswire - All rights reserved., source