TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) — ARHT Media Inc. (“ARHT Media“) [TSXV:ART], the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, announces that directors and senior management of the Company have transferred an aggregate of 7,074,778 common share purchase warrants expiring on November 23, 2021 (collectively, the “Warrants“) to an arms’ length third party purchaser. The purchaser has indicated to management its intention to exercise the Warrants in the near term.
Following the transfer described above, directors and senior management of the Company hold an aggregate of 2,885,001 additional Warrants expiring in November 2021. Each of the directors and members of senior management who hold Warrants have indicated an intention to exercise such Warrants prior to the November 2021 expiry date. In addition, directors of the Company recently exercised an aggregate of 1,618,000 Warrants into Common Shares of the Company.
“The exercise of these warrants will generate approximately $1,294,771, which is intended to further fund growth at ARHT Media,” stated CEO Larry O’Reilly, “Management and directors investing additional capital reflects the long-term belief we all have in our business.”
About ARHT Media
ARHT Media’s patented HoloPresence 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 makes 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 HoloPresence displays to deliver rich holographic experiences. Add to this our capability to stream the same content online on our premium Virtual Global StageTM.
ARHT Media trades under the symbol “ART” on the TSX Venture Exchange.
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the intention to exercise convertible securities of the Company; disclosure related to the Company’s sales funnel; 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 ARHT Media 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.
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