VANCOUVER, British Columbia, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Appreciated Media Holdings Inc. ("Appreciated Media" or the "Corporation") (TSXV: AMH) (OTCQB: AMEFF) is pleased to announce that the Corporation has entered into a further bridge financing arrangement (the “Facility”) with Amcomri GP BVI Limited (“Amcomri”).
Pursuant to the Facility, Amcomri has agreed to make an additional $200,000 available to the Corporation to be used to repay certain debts of the Corporation. All amounts advanced under the Facility will bear interest at a rate of eight percent (8%) per annum, payable upon demand.
Further, as previously announced, the Corporation remains subject to a cease trade order issued against the Corporation by the British Columbia Securities Commission as a result of the Corporation's failure to file the Corporation's annual financial statements for the year ended June 30, 2020 and interim financial statements for the interim period ended September 30, 2020 and associated management's discussion and analysis and officer certificates (the "Required Filings"), in accordance with the timelines set forth in National Instrument 51-102 - Continuous Disclosure Obligations. The Corporation continues to work towards completing the Required Filings and will provide a further update upon confirmation of the anticipated timing for completion.
About Appreciated Media Holdings Inc.
Appreciated Media (TSXV: AMH) (OTCQB: AMEFF) is a multi-faceted entertainment company based in Vancouver.
Neither the TSX Venture Exchange Inc. ("Exchange") nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend," statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond Appreciated Media's control and Appreciated Media's actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors. Although Appreciated Media believes that the expectations reflected in the forward-looking statements are reasonable, Appreciated Media cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All forward-looking statements contained in this press release are made as of todays date and Appreciated Media undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further details, please see the Corporation’s documents filed under the Corporation’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
For inquiries, please contact:
Michael Walker, Director