Reklaim Ltd. Announces Proposed Amendment to Convertible Debentures
Early conversion would stop interest accruing on converted principal, while unconverted debt would retain its existing terms.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Reklaim (MYIDF) proposed amendments allowing holders of its convertible debentures to voluntarily convert principal into common shares before maturity. The amendments cover $500,000 of 12% senior secured debentures and retain the existing conversion price of $0.105 per share, subject to adjustment, and October 29, 2028 maturity date.
Interest would stop accruing on converted principal from the conversion date; unconverted principal would continue bearing 12% annual interest and remain secured. Other debenture and related warrant terms would remain unchanged. The amendments require TSXV approval and agreements with applicable holders. Conversions resulting in ownership or control of 20% or more would require any shareholder approval mandated by TSXV policies.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Voluntary early conversion would retire converted principal and end its 12% annual interest accrual.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.Proposed early conversions would issue common shares at $0.105 per share, subject to adjustment, diluting existing holders.
- Moderate pointAmendments remain subject to TSXV approval and amending agreements with applicable debenture holders.
- Minor point. Forward-looking: it has not happened yet and may not happen.Conversions reaching 20% or more ownership or control require any shareholder approval mandated by TSXV policies.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Proposed amendment would permit voluntary early conversion at the existing conversion price, with all other terms unchanged
Toronto, Ontario--(Newsfile Corp. - November 2, 2026) - Reklaim Ltd. (TSXV: MYID) (OTCQB: MYIDF) ("Reklaim" or the "Company"), a consumer data privacy and monetization platform, today announced proposed amendments to its outstanding convertible debentures to permit holders to voluntarily convert all or a portion of their principal into common shares before maturity, subject to TSX Venture Exchange approval and the Company entering into amending agreements with the applicable debenture holders.
The Company intends to file an application with the TSX Venture Exchange (the "TSXV") to amend certain terms of its
Under the existing terms of the Debentures, each holder of a Debenture (each, a "Debentureholder") may elect to convert the outstanding principal of its Debenture into common shares in the capital of the Company (each, a "Share") at a conversion price of
The proposed amendments to the Debentures (the "Debenture Amendments") would permit each Debentureholder, at any time and from time to time before the Maturity Date, to convert all or any portion of the outstanding principal of its Debenture into Shares at the Conversion Price. To effect an early conversion, a Debentureholder would be required to deliver a written conversion notice to the Company. Accrued interest on the principal converted would be calculated to the conversion date and paid on the next interest payment date in accordance with the existing terms of the applicable Debenture, and no further interest would accrue on that principal after the conversion date. Any principal not converted would remain outstanding, continue to bear interest at
A Debentureholder would not be entitled to convert principal to the extent that, after giving effect to the conversion, the Debentureholder, together with any person acting jointly or in concert with the Debentureholder, would beneficially own, or exercise control or direction over,
The Debenture Amendments relate solely to permitting voluntary conversion of the Debentures before the Maturity Date. All other terms of the Debentures would remain unchanged, including the principal amount,
The Debenture Amendments remain subject to the approval of the TSXV and the Company entering into amending agreements with the applicable Debentureholders.
About Reklaim
Reklaim Ltd. (TSXV: MYID) (OTCQB: MYIDF) is a consumer data privacy and monetization platform that returns control of personal information to individuals. Consumers can access, manage, remove, or choose to earn from their data, while Reklaim provides consumer-permissioned data solutions to brands, agencies, platforms and enterprise partners. The Company generates revenue through data licensing, audience activation, and enterprise data partnerships. Reklaim Protect helps consumers remove personal information from data brokers and monitor dark web exposure.
For more information, visit reklaimyou.com or Reklaim Investor Relations.
Investor Contact
Reklaim Ltd.
Investor Relations
investorrelations@reklaimyours.com
reklaimyou.com/investors
Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. Forward-looking statements are not historical facts, are made as of the date of this news release and include, without limitation, statements concerning the proposed Debenture Amendments, including the filing of the Company's application with the TSXV, the entry into amending agreements with applicable Debentureholders and the implementation and effects of the Debenture Amendments.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the risks that the TSXV does not approve the Debenture Amendments or approves them on terms other than as proposed, the risk that some or all of the applicable Debentureholders do not enter into amending agreements, and the risk that the Debenture Amendments are not implemented on the terms proposed or at all. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, without limitation, the approval of the TSXV and the willingness of the applicable Debentureholders to enter into amending agreements.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those expressed or implied in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements are provided for the purpose of assisting readers in understanding management's current expectations regarding the matters described in this news release, and readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statements contained in this news release, except as required by applicable securities laws. Readers are encouraged to read the Company's continuous disclosure documents, including the risk factors described in its most recent management's discussion and analysis, available under the Company's SEDAR+ profile at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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/322091
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What changes is Reklaim proposing for its convertible debentures?
Reklaim proposes allowing holders to convert all or part of their outstanding principal before October 29, 2028, at the existing $0.105 per share conversion price, subject to adjustment. The amendments cover $500,000 of 12% senior secured debentures, with all other terms unchanged.
How would Reklaim debenture holders request early conversion and receive accrued interest?
A holder would submit a written conversion notice to Reklaim to request early conversion. Interest on converted principal would be calculated through the conversion date and paid on the next interest payment date under the existing debenture terms.