Reklaim Ltd. Improves Balance Sheet, Announces Agreement to Reduce Outstanding Payables by 36%

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Reklaim Ltd. has resolved a dispute with a former vendor, reducing accounts payable by $506,695. This agreement decreases outstanding accounts payable by 36% and will have a significant positive impact on the company's financial standing and balance sheet.

Resolution of dispute reduces accounts payable by $506,695.

TORONTO, Aug. 17, 2023 /PRNewswire/ - Reklaim Ltd. (TSXV: MYID) (OTC: MYIDF) (the "Company") is pleased to announce that it has reached a successful agreement with a former vendor regarding outstanding payables, reducing disputed amounts by approximately $506,695. This agreement reduces outstanding accounts payable by 36% and will profoundly impact the Company's financial standing and improve its balance sheet substantially.

Additionally, Reklaim held an investor call on Tuesday, Aug. 15, 2023, at 4 p.m. ET to discuss its record Q2-2023 financial results and profitability. A recording of the presentation can be found here or at the company's investor site: www.investors.reklaimyours.com

About Reklaim

Consumer data and the evolution of privacy drive Reklaim. Offering compliant, zero-party data to Fortune 500 brands, platforms, and data companies. Reklaim allows consumers to visit the platform, confirm their identity, and unveil data collected and sold for years without the consumer's explicit consent. Reklaim enables consumers to take back control of this data by setting up a Reklaim account through which, should they choose to, they can be compensated for their data or protect it via a suite of privacy tools. To view more information about Reklaim, visit https://investors.reklaimyours.com.

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.

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SOURCE Reklaim Ltd.

FAQ

What is the news about Reklaim Ltd.?

Reklaim Ltd. has reached a successful agreement with a former vendor to resolve a dispute and reduce accounts payable by $506,695.

How much will outstanding accounts payable decrease by?

The agreement will decrease outstanding accounts payable by 36%.

What impact will this agreement have on Reklaim Ltd.'s financial standing?

The agreement will have a profound impact on Reklaim Ltd.'s financial standing and substantially improve its balance sheet.

When did Reklaim Ltd. hold an investor call?

Reklaim Ltd. held an investor call on Tuesday, Aug. 15, 2023, at 4 p.m. ET.

Where can I find a recording of the investor call?

A recording of the presentation can be found at Reklaim Ltd.'s investor site: www.investors.reklaimyours.com