CALGARY, Feb. 1, 2018 /CNW/ - Clarocity Corporation
(TSXV:CLY; OTCQB:CLRYF) (the "Company" or
"Clarocity") today announced that it will issue 1,325,585
common shares to debentureholders in lieu of cash as consideration
for interest payments due January 31,
2018, for the aggregate amount of $114,000.
Under the terms of the Company's indentures dated May 8, 2017, debentureholders may elect to
receive settlement of monthly interest payments in the equivalent
of common shares of the Company converted at the greater of the
market price prescribed under the policies of the TSX Venture
Exchange or the volume average trading price for the 5 trading days
prior to the interest payment date. The conversion rate applicable
to the December 31, 2017 interest
rate payment is $0.086 per common
share. Following the issuance, the Company will have 256,849,807
issued and outstanding shares.
The issuance of the common shares remains subject to approval by
the TSX Venture Exchange.
About Clarocity Corporation
Clarocity Corporation provides real estate valuation solutions
and platform technologies designed to address today's dynamic
housing market. Our innovative platform is driving the
next-generation of valuation solutions such as MarketValue Pro
(MVP) and BPOMerge and setting new standards in real estate
valuation quality and reliability.
Every day GSE, banking, and investor clients rely on our
proprietary solutions to value assets, fund loans, and securitize
portfolios. As a fully integrated technology and valuation services
company, Clarocity provides a full spectrum of appraisal and
alternative valuation solutions. For more information, visit
www.clarocity.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities in
the United States. The securities
of the Company will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act, and
may not be offered or sold within the
United States or to, or for the account or benefit of U.S.
persons except in certain transactions exempt from the registration
requirements of the U.S. Securities Act)
SOURCE Clarocity Corporation
