Vancouver, British Columbia--(Newsfile Corp. - May 24, 2022) - Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE:2V0) ("Marble" or the "Company"), an AI-driven financial technology company, is pleased to announce that it will temporarily reduce the exercise price of its warrants to $0.10 for a period of 30 days ending on June 24, 2022. In accordance with the policies of the Canadian Stock Exchange ("CSE"), any warrants issued as compensation to agents and finders are not eligible for and are excluded from the exercise price reduction.
A summary of the Company's current outstanding warrants eligible for the temporary exercise price reduction (the "Eligible Warrants") is as set out below:
| Number of Eligible Warrants | Original Exercise Price | Original Expiry Date |
| 5,314,615 | $0.15 | 2022-11-29 |
| 2,377,691 | $0.15 | 2022-12-17 |
| 1,882,034 | $0.25 | 2022-10-23 |
| 1,685,000 | $0.25 | 2022-12-07 |
| 4,211,666 | $0.25 | 2022-12-23 |
If an Eligible Warrant is exercised at the reduced exercise price within the 30-day period, each common share issued on exercise will be accompanied by an additional common share purchase warrant entitling the holder to purchase one common share of the Company at a price of $0.20 until December 24, 2023.
Upon the expiry of the 30-day period, any unexercised Eligible Warrants will revert back to their original exercise price and expiry date.
Marble will use the proceeds from the exercise of the Eligible Warrants for general working capital and to fund the binding LOI transaction between eBunch Data and Development Ltd. and the Company. (see news release dated April 28, 2022)
About Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE: 2V0):
Marble's proprietary MyMarble platform utilizes the power of machine learning, data science, and artificial intelligence, in leveraging its proven data-driven strategies through technology solutions to engage in and navigate a clear path towards financial wellbeing and a meaningful credit score for consumers and a proprietary risk score alternative data for Financial Institutions and Alternative Lenders. Since 2016, Marble is proud to have empowered thousands of marginalized consumers to a positive financial future, and we continue to establish ourselves as leaders in financial wellness through the licensing of our proprietary products on the MyMarble Platform and through Inverite.
For further information about Marble, please visit: mymarble.ca
Mike Marrandino, Executive Chairman
T:(855) 661-2390 ext. 104 Email: ir@marblefinancial.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-Looking Information
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words beliefs, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements do not guarantee future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Marble, are forward-looking and involve risks and uncertainties. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124932
