CALGARY, AB / ACCESSWIRE / March 30, 2022 / BnSellit Technology Inc. ("BnSellit" or the "Corporation") (CSE:BNSL)
BnSellit Technology Inc. announces that further to its press release dated March 4, 2022 relating to its convertible debenture private placement financing (the "Offering"), the Corporation has amended its conversion right price from $0.40 to $0.60 (the "Amended Company Conversion Price"). Pursuant to the Amended Company Conversion Price following the closing of the Offering and prior to the Maturity Date, if the volume weighted average price of the Shares on the CSE for 10 consecutive trading days equals or exceeds $0.60, the Corporation may force conversion of all of the principal amount of the Convertible Debentures at the Conversion Price, upon giving Convertible Debenture holders 15 days advance written notice, in accordance with the conversion terms.
All other terms and conditions under the Offering remain unchanged.
For more information regarding the Offering, please refer to the Corporation's news release dated March 4, 2022.
BnSellit Technology Inc. is a technology company that connects guests staying in Short-Term Rental ("STR") properties with items offered for sale or rent by STR owners and managers ("Hosts"). With the BnSellit app, Hosts can quickly and easily post and manage items located on site for sale or rent. Items which can significantly increase revenue per stay. These items can include local souvenirs, decor, essential items, snacks, toiletries, art, antiques and activity kits. Using the BnSellit app, Hosts can also rent bicycles, golf clubs or sell access to hi-speed internet for even more revenue. When guests arrive at a BnSellit Host location, they are presented with simple instructions on how to view, purchase or rent available items. Once the payment transaction is complete, the guest can use the item during their stay or take it with them when they leave. Guests also have access to multiple local experiences and attractions that they can book directly through the App.
Through its Enterprise division, the Corporation can offer hotel chains the ability to use the platform, either branded or white label, to offer their guests additional services with minimal implementation disruption. The Platform has already been linked to many hotel chain loyalty programs via their published APIs.
Sian Bolton, Chief Financial Officer
Forward Looking Information Disclaimer
The information in this news release contains certain forward-looking statements. These statements relate to future events or the Corporations future performance. All statements other than statements of historical fact may be forward-looking statements. These statements involve substantial known and unknown risks and uncertainties, many of which are beyond the Corporation's control. The forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
SOURCE: BnSellit Technology Inc.