Clip Money Inc. Reports 2023 Year End Results - Seite 2

On September 21, 2023, the Company completed a non-brokered private placement of 28,596,826 common shares in the capital of the Company (each a “Common Share”) at a price of CDN$0.23 per Common Share for gross proceeds of approximately $4,900,000 (the “Equity Financing”). Separately, the Company also completed a non-brokered private placement of secured convertible notes of the Company (each a “Secured Note”) for gross proceeds in the principal amount of $6,132,271, inclusive of $1,032,271 subscribed for by an existing arm’s length investor (the “Secured Notes Financing”). Cardtronics, Inc. (“Cardtronics”), a wholly-owned subsidiary of NCR Atleos Corporation (NYSE:NATL), subscribed for the entire Equity Financing and $5,100,000 of the Secured Note Financing, for a combined $10,000,000 investment in the Company.

On June 14, 2023, the Company closed a private placement of note units (each a “Note Unit”) for aggregate gross proceeds of $2,928,572 (CDN$3,903,714) (the “Unsecured Notes Financing”). Each Note Unit consisted of one 12% unsecured convertible note with a principal amount of CDN$1,000 (each an “Unsecured Note”) and 1,000 common share purchase warrants of the Company.

"As we close a successful year at Clip, I am proud to share that our relentless dedication has led to the implementation of a scaled operation and platform. This achievement, coupled with the endorsement of our value proposition by several large nationwide retailers and our partnership with NCR Atleos, underscores our commitment to innovation and excellence. Our collaboration with NCR Atleos further strengthens our position in the market and enhances our ability to deliver cutting-edge solutions to our customers. Together, we are poised for even greater success as we continue to expand our reach and drive growth. Looking ahead to 2024, we are excited to announce the launch of new solutions including ClipChange and ClipATM that will further accelerate our growth and solidify our leadership in the industry. These developments represent our ongoing efforts to meet the evolving needs of our customers and exceed expectations. I extend my sincere appreciation to our team, customers, partners, and stakeholders for their unwavering support. Together, we are shaping a future of continued success and prosperity for Clip.”