CSE Symbol: HP
Frankfurt Symbol: 27H
OTC Markets Symbol: HLLPF
Vancouver, British Columbia: Hello Pal International Inc. (“Hello Pal” or the “Company”) is pleased to announce that it has closed its convertible note (the “Notes”) private placement in the principal amount of $425,000 (the “Financing”). Under the Financing, each Note will bear interest at a rate of 15% per annum and be due five (5) years from the date of issue.
The Notes will be convertible into units (a “Unit”) at a price of $0.115 per unit and each unit will consist of one common share of Hello Pal and one share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase an additional share common share of Hello Pal at a price of $0.115 per share for a period of five years from the date of issue.
The securities issued under the Financing will subject to restrictions on resale expiring on August 17, 2018. No finder’s fees were payable under the Financing.
Proceeds of the Financing will be used for developments to the Hello Pal Platform and general corporate purposes.
For information with respect to the Company or the contents of this news release, please contact Ryan Johnson, Corporate Development at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: [email protected].
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, travel and language learning. Hello Pal has been designed from the ground up to be easy to use and enables users’ the freedom to speak in their own language regardless of the other person’s language they are speaking to. Hello Pal’s overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world, and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Hello Pal was the first app released to the public and experienced rapid growth building a diverse and active global user base. Travel Pal is the first companion app to launch and benefits from this broad-based group of users. Each new app will launch with this established rapidly growing user base accelerating their adoption.
Information set forth in this news release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal’s control. Such factors include, among other things: Hello Pal’s limited operating history, obtaining regulatory approvals and those risks and uncertainties described in its management discussion and analysis filed on www.sedar.com. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE