HPIL Holding Secures a $CAD 32 Million Capital Commitment from GEM Global Yield LLC SCS ("GEM")
May 18 2022 - 9:00AM
InvestorsHub NewsWire
Vancouver, BC,
CANADA -- May 18, 2022 -- InvestorsHub NewsWire -- HPIL
Holding (OTC:
HPIL) is pleased to announce that it has secured a $CAD 32
million capital commitment from GEM Global Yield LLC SCS ("GEM"),
for a 36-month term following the public listing of the Company's
common stock on the Canadian Stock Exchange (CSE). HPIL intends to
use the funds to strengthen its business by providing the financial
resources to develop its business segments and markets as well as
to incubate further technologies. The share subscription facility
will allow HPIL to draw down funds against the issuance of shares
of HPIL's common stock. HPIL will control the timing and the size
of such drawdowns, subject to specified limits. The Company has
issued warrants to GEM to purchase up to three point eight (3.8%)
of the outstanding common stock of the Company on a fully diluted
basis which will vest in full concurrently with a public listing of
HPIL's shares. During the commitment period, HPIL has the option to
increase the facility to $CAD 75.5 million, subject to certain
terms and conditions.
"This agreement
with GEM helps to secure funding for continued growth and
development of the Company as we continue to bring innovative
technologies to our key business segments, " stated Stephen Brown,
CEO of HPIL.
"We are excited to be working with GEM and their excellent team and
look forward to achieving significant milestones in 2022 and 2023
as we move forward with our business strategy and take advantage of
the opportunities that are available to the Company," stated
Stephen Brown, CEO of HPIL.
ABOUT GEM:
Global Emerging Markets ("GEM") is a $3.4 billion alternative
investment group based in Paris, New York and the Bahamas. GEM
manages a diverse set of investment vehicles focused on emerging
markets and has completed over 520 transactions in 70 countries.
Each investment vehicle has a different degree of operational
control, risk-adjusted return and liquidity prole. The family of
funds and investment vehicles provide GEM and its partners with
exposure to: Small-Mid Cap Management Buyouts, Private Investments
in Public Equities (PIPEs) and select venture investments. For more
information: http://www.gemny.com
ABOUT HPIL: HPIL
Holding is a worldwide diversified company developing projects with
innovative technology that strongly believes in its slogan:
WHERE THE HUMAN ELEMENT MEETS THE FUTURISTIC MIND.
The Company has a well-versed project slate such as Apogee
Dynamics, World Gaming Group, Medusa Artificial Intelligence, NFT
Procurement, ZIPPA and Humm Token. www.hpilholding.ca
Safe Harbor:
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
(The "Act"). In particular, when used in the preceding discussion,
the words "pleased," "plan," "confident that," "believe," "expect,"
or "intend to," and similar conditional expressions are intended to
identify forward-looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Such
statements are subject to certain risks and uncertainties and
actual results could differ materially from those expressed in any
of the forward-looking statements. Such risks and uncertainties
include, but are not limited to, market conditions, general
acceptance of the Company's products and technologies, competitive
factors, the ability to successfully complete additional financings
and other risks described in the Company's SEC reports and
filing.
For more
information: info@hpilholding.ca
www.hpilholding.ca
Contact: Stephen
Brown, CEO
HPIL (CE) (USOTC:HPIL)
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