Subordinate Voting Shares Issued to Settle June 30th Interest Payment on Convertible Debentures

Rhea-AI Summary

MiMedia (OTCQB:MIMDF) issued 2,238,249 subordinate voting shares to settle interest owed as of June 30, 2026 on its 10% and 12.5% unsecured convertible debentures. The Interest Payment Shares were priced at $0.19, the TSX Venture Exchange Market Price on June 30, 2026, and remain subject to final TSXV approval.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• 2,238,249 shares issued to settle June 30, 2026 debenture interest obligations
• Interest Payment Shares priced at $0.19, equal to TSXV Market Price on June 30, 2026

Negative

• Issuance of 2,238,249 new shares may dilute existing subordinate voting shareholders
• Interest Payment Share issuance remains subject to final TSX Venture Exchange approval

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New York, New York--(Newsfile Corp. - July 7, 2026) - MiMedia Holdings Inc. (TSXV: MIM) (OTCQB: MIMDF) (FSE: KH3) ("MiMedia" or the "Company") announced today that, further to its press release of June 19, 2026, it has issued 2,238,249 subordinate voting shares of the Company (the "Interest Payment Shares") to settle the interest owing as of June 30, 2026 to holders of its outstanding 10% Unsecured Convertible Debentures (the "10% Debentures") and 12.5% Unsecured Convertible Debentures (the "12.5% Debentures") (and together, the "Debentures"). The Interest Payment Shares were issued at the Market Price (as defined in TSX Venture Exchange Policy 1.1 - Interpretation) per subordinate voting share of the Company on June 30, 2026, being $0.19.

The Debentures were issued pursuant to the Convertible Debenture Indentures between the Company and Odyssey Trust Company dated March 14, 2023, as supplemented by supplemental convertible debenture indentures dated July 20, 2023 and March 13, 2026, and dated June 27, 2025, respectively. The issuance of the Interest Payment Shares remains subject to the final approval of the TSX Venture Exchange.

About MiMedia Holdings Inc.

MiMedia Holdings Inc. provides a next-generation consumer cloud platform that enables all types of personal media to be secured in the cloud, accessed seamlessly at any time, across all devices and on all operating systems. The company's platform differentiates with its rich media experience, robust organization tools, private sharing capabilities and features that drive content re-engagement. MiMedia partners with smartphone makers and telecom carriers globally and provides its partners with recurring revenue streams, improved customer retention and market differentiation. The platform services millions of engaged users around the world.

FOR FURTHER INFORMATION PLEASE CONTACT:
Chris Giordano
President and CEO
(888) 502-9398
investors@mimedia.com

NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304345

FAQ

What did MiMedia (OTCQB:MIMDF) announce on July 7, 2026 about its interest payments?

MiMedia announced it issued 2,238,249 subordinate voting shares to settle interest owed as of June 30, 2026. According to MiMedia, these Interest Payment Shares cover interest on its 10% and 12.5% unsecured convertible debentures and are pending final TSX Venture Exchange approval.

How many MiMedia subordinate voting shares were issued to settle June 30, 2026 interest on its debentures?

MiMedia issued 2,238,249 subordinate voting shares to settle its June 30, 2026 interest obligations. According to MiMedia, these Interest Payment Shares were used instead of cash to pay interest on its outstanding 10% and 12.5% unsecured convertible debentures.

At what price were MiMedia’s June 30, 2026 Interest Payment Shares issued and how was it determined?

The Interest Payment Shares were issued at $0.19 per subordinate voting share. According to MiMedia, this price reflects the Market Price as defined in TSX Venture Exchange Policy 1.1 for June 30, 2026, the date the interest was owed.

Which MiMedia convertible debentures are affected by the June 30, 2026 interest share issuance?

The issuance relates to MiMedia’s 10% and 12.5% unsecured convertible debentures. According to MiMedia, the Interest Payment Shares settle interest owing as of June 30, 2026 on these debentures, which were issued under indentures with Odyssey Trust Company and related supplements.

Is MiMedia’s issuance of Interest Payment Shares for June 30, 2026 interest already approved by the TSX Venture Exchange?

No, the issuance still requires final TSX Venture Exchange approval. According to MiMedia, the 2,238,249 Interest Payment Shares were issued at $0.19 per share, but the transaction remains subject to the exchange’s final approval process.

What is the impact of MiMedia’s 2,238,249 Interest Payment Shares on existing MIMDF shareholders?

The issuance increases the number of subordinate voting shares outstanding, which can dilute existing holdings. According to MiMedia, these additional shares were specifically issued to satisfy interest owed on the company’s 10% and 12.5% unsecured convertible debentures.