CEO, CFO AND FIVE BOARD MEMBERS AMONG CURRENT INVESTORS ADDING TO THEIR OWNERSHIP POSITION
TORONTO, August 23, 2021 — ARHT Media Inc. (“ARHT” or “the Company”) (TSXV:ART), the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, today announced that CEO Larry O’Reilly, CFO Hanna Ayyad, and board members William Steers, Jonathan Pollack, Tim Casgrain, David Wetherald and Richard Carl are among current shareholders of ARHT Media that have exercised 7,180,786 $0.18 warrants, resulting in net proceeds to the Company of $1,292,541.
“The additional capital will add further resources to our balance sheet during this exciting inflection point in our Company’s history,” commented ARHT CEO Larry O’Reilly. “Participation by members of the management team and board of directors in this warrant exercise reinforces the confidence we all share in our current business plan, which contemplates significant growth over the next few years. The launch and interest in CAPSULE, our new hologram display, combined with broader sales initiatives across all our portfolio of products bode extremely well for accelerated revenue growth at ARHT.”
About ARHT Media
ARHT Media’s patented HoloPresenceTM technology is a complete end-to-end solution that creates a sense of presence for audiences – as though the holographic presenter was actually live in the room. With no noticeable latency, ARHT Media makes two-way live communication with a 3D holographic presenter anywhere in the world possible. We can also playback pre-recorded content and 3D animations on our HoloPresence displays to deliver rich holographic experiences. Add to this our capability to stream the same content online on our premium Virtual Global Stage™.
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ARHT Media trades under the symbol “ART” on the TSX Venture Exchange.
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the intention to exercise convertible securities of the Company; disclosure related to the Company’s sales funnel; the Company’s technology; the potential uses for the Company’s technology; the future planned events using the Company’s technology; the future success of the Company; the ability of the Company to monetize the ARHT Media technology; the development of the Company’s technology; and interest from parties in ARHT’s products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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