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JetJaguar on Nov 20, 2019 1:41pm
FYI-
FOR IMMEDIATE RELEASE Symbols: CSE: SAAS, OTCQB: SRBBF, Frankfurt: 6GQ SUBSCRIBE TECHNOLOGIES ANNOUNCES ISSUANCE OF SHARES FOR SERVICES Vancouver, British Columbia, Canada – November 19, 2019 – Subscribe Technologies Inc. (CSE: SAAS, OTCQB: SRBBF, Frankfurt: 6GQ) (“Subscribe” or “the Company”) announces that it plans to issue up to 3,795,000 common shares (the “Shares”) of the Company for past services performed (the “Shares for Services”), in lieu of cash, to certain related parties of the Company at a deemed price of $0.05 per Share, totaling approximately $189,750. The Shares issued are subject to a four month hold period. Paul Dickson, President, CEO and a director of the Company received 1,900,000 Shares through his company, Basic Corporate Services Ltd., Harvey D, a director of the Company received 1,300,000 Shares and Christopher P. Cherry received 595,000 Shares through his company, Cherry Consulting Ltd. As a result, the Shares for Services transaction is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied upon section 5.5(a) “Fair Market Value Not More Than $2,500,000” and section 5.5(b) the “Issuer Not Listed on Specified Markets” and exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101. About Subscribe Technologies Inc. Subscribe Technologies Inc. develops, partners with, acquires, and invests in Software-as-a-Service (SaaS) business with a subscription-based business model. To learn more about Subscribe Technologies, please visit www.subscribetech.com. On Behalf of the Board, Paul Dickson President & CEO Contact: support@subscribetech.com The CSE has not reviewed, approved or disapproved the content of this press release.