Vancouver, B.C. March 19, 2020 – Marble Financial Inc. (CSE: MRBL; OTCQB: MRBLF) (“Marble” or the “Company”) is pleased to announce the 1st closing of its previously announced private placement of unsecured convertible debentures (the “Debentures”), in the amount of $400,000 in principal amount of Debentures. The Debentures have a one-year term and will accrue interest at a simple rate of 12% per annum, payable quarterly not in advance.
The principal amount of the Debentures and all accrued but unpaid interest thereon are convertible, at the option of the holder, into common shares of the Company at a price of $0.30 per share. If the Company’s common shares trade or close on the Exchange at $0.45 or higher for a period of 10 consecutive trading days, the Company has the option to force the conversion of the Debentures and all accrued but unpaid interest into common shares of the Company at a price of $0.30 per share.The Debentures and any conversion shares are subject to a statutory hold period expiring July 17, 2020.
ON BEHALF OF THE BOARD OF DIRECTORS,
Karim Nanji, CEO
About Marble Financial Inc. (CSE: MRBL; OTCQB: MRBLF) We are a group of forward-thinking financial technology experts that fully understand the benefits and drawbacks of credit in Canada. Marble helps Canadians rebuild their credit to gain access to prime lending, through our industry-leading proprietary technology solutions Fast- Track, Score-Up, and Credit-Meds. Our proven strategy guides our customers back to a meaningful credit score, 50% quicker than traditional methods. Since 2016, Marble is proud to have empowered thousands of Canadians to a positive financial future and we continue to establish ourselves as leaders in financial wellness.
For further information, please visit the company’s website at http://www.mymarble.ca/
T:(855) 661-2390 ext. 104