Keek Inc.

Keek Inc.

December 03, 2015 18:43 ET

Keek Inc.: Early Warning News Release

TORONTO, ONTARIO--(Marketwired - Dec. 3, 2015) - Pursuant to the issuance of an amended and restated promissory note of Keek Inc. (the "Corporation), the Corporation has added a conversion feature, at $1 per share, to a $3 million note (the "Note") previously acquired by Riavera Corp. ("Riavera"), 184 Front Street East, Suite 701, Toronto, Ontario M5A 4N3, therefore Riavera may acquire 3,645,833 common shares of the Corporation issuable on conversion of the principal amount of the Note and interest which may accrue up to the March 1, 2017 maturity date, representing 13% of the outstanding common shares of the Corporation on a partially diluted basis. Riavera, together with Personas.com Corporation, which may be considered a joint actor of Riavera, now owns and controls, 3,000,000 common shares of the Corporation, representing 12.3% of the outstanding common shares of the Corporation on a undiluted basis, 3,000,000 warrants each exercisable to purchase one common share of the Corporation, 300,000 options each exercisable to purchase one common share of the Corporation and the Note which is convertible into 3,645,833 common shares of the Corporation (assuming conversion of the full principal amount all interest which may accrue up to the March 1, 2017 maturity date), representing in aggregate, 29% of the outstanding common shares of the Corporation on a partially diluted basis. Riavera agreed to extend the maturity date and lower the interest rate in consideration of the addition of the conversion feature. Riavera acquired the Note and agreed to terms of the amended and restated Note, including the addition of the conversion feature, for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership of common shares of the Corporation or other securities of the Corporation whether by conversion of the Note, in the open market, by privately negotiated agreement or otherwise.

An early warning report with additional information will be filed on and can be obtained under the Corporation's profile on SEDAR at www.sedar.com. To obtain a copy of the early warning report please contact Mark Itwaru at 416-815-7000 ext. 320.

Contact Information

  • Mark Itwaru
    416-815-7000 ext. 320