Toronto, Ontario--(Newsfile Corp. - May 31, 2023) - Personas Social Incorporated (TSXV: PRSN) (the "Company") announces that the 2023 Quarter 1 consolidated financial statements ("Financial Statements") and Management's Discussion and Analysis ("MD&A") for the quarter ended March 31st, 2023, have been filed with SEDAR.
The Company is proud to announce that the quarter ended March 31st, 2023, saw a net profit of $108,295 compared to $2,283 for Q1 2022. Expenses increased slightly from $332,498 in 2022 to $396,451 for the same period in 2023. Increase in expenses are mainly due to additional consulting expenses related to the Company's new product.
Subsequent to Q1, and in anticipation of the upcoming re-launch of its Keek Social service, the Company has raised $1,000,000 CAD at price of 6 cents per unit. Each purchased share is accompanied by one-half a warrant at a strike price of 8 cents. The warrants are subject to an acceleration clause wherein warrant holders will be obliged to exercise their warrants (or loose them) if the Company's share price equals or exceeds 50 cents for 10 or more trading days.
Certain information provided in this news release is extracted from the Financial Statements and MD&A of the Company for the quarter ended March 31st, 2023, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information.
For further information, please contact:
Personas Social Incorporated
Mark Itwaru
Chairman & Chief Executive Officer
647.789.0074
Mark Itwaru mark@personas.com
Forward Looking Statements
This news release contains forward-looking statements relating to the expected timing of the filing of the Annual Filings. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are risks detailed from time to time in the filings made by the Corporation with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Corporation will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
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