TORONTO, Dec. 24, 2018 – Internet of Things Inc. (TSX VENTURE: ITT; OTC: INOFT; FRANKFURT: 7IT) (“IoT Inc.” or the “Company”) a strategic investor and operator of emerging technology companies with innovative IoT, AI and Blockchain solutions, announces it will be applying for approval from the TSX Venture Exchange to extend the expiry date of 3,010,000 Class C common share purchase warrants issued to subscribers (the “Subscriber Warrants”) pursuant to the Company’s convertible debenture private placement financing, which closed on April 30, 2015. Internet of Things Inc. intends to extend the expiry date of the 3,010,000 Subscriber Warrants from January 5, 2019 until December 5, 2021.
The exercise price of $0.125 and all other terms of the Subscriber Warrants will remain unchanged for the extended exercise period. Included in the extended Subscriber Warrants are 1,150,000 Subscriber Warrants held by insiders. The extension is subject to approval from the TSX Venture Exchange.
About Internet of Things Inc.
Internet of Things Inc. is a strategic investor and operator of emerging technology companies with innovative technology solutions. The Company creates value through its portfolio companies’ expertise in IoT, AI and Blockchain solutions, by turning data into actionable intelligence to drive more efficiency into organizations.
The Company owns Weather Telematics Inc., has a joint venture partnership, New Hope IoT Intl Inc., with New Hope Data Technology Co. Ltd., and has its headquarters in Toronto, Canada.
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Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. 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. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
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