Vancouver, BC, July 10, 2023--(T-Net)--BBTV Holdings Inc. (TSX: BBTV), a leading creator monetization company, announced that RTL Group (through its subsidiary, UFA Film und Fernseh) has granted BBTV the option to retire its debt under the secured convertible promissory loan note of approximately $20.4 million (as at June 30, 2023) at a discount based on a variety of factors, including the Company having a successful financing on or before September 15, 2023.
The remaining terms of the Secured Convertible Loan are currently unchanged.
About BBTV
BBTV is a global media and technology company headquartered in Vancouver, Canada. The Company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency - content creation. In December 2022, BBTV had the fourth most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 35 billion minutes of video content [1]. (www.bbtv.com )
[1] Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = December 2022 comScore Video Metrix Media Trend - Multi-Platform - Top 100 Video Properties Report"; Top 12 countries represent ~50% of world's digital population.
Forward-Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which reflects the Company's current expectations regarding future events, including that Ehab Samy's perspective on innovation can help propel the Company's vision to advance the world by helping content creators become more successful, and define the culture of today and tomorrow; the Company is building solutions for a massive and evolving landscape which is exactly the kind of opportunity that brings the most out of the skilled developers and engineers that work at BBTV; there's so much room to innovate and drive success for creators while powering growth for the business; and that Mr. Samy's appointment is effective January 1st. [ MORE ]
Forward-Looking Statements This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which reflects the Company's current expectations regarding future events, including that Ehab Samy's perspective on innovation can help propel the Company's vision to advance the world by helping content creators become more successful, and define the culture of today and tomorrow; the Company is building solutions for a massive and evolving landscape which is exactly the kind of opportunity that brings the most out of the skilled developers and engineers that work at BBTV; there's so much room to innovate and drive success for creators while powering growth for the business; and that Mr. Samy's appointment is effective January 1st.
Forward-looking information is necessarily based on a number of estimates and assumptions that we considered appropriate and reasonable as of the date such information is given, including but not limited to our assumptions that our industry will continue to experience positive changes, growth and trends; the Company will continue to have timely access to needed capital, and will continue to grow its creator base; the Company's technology will continue to perform and be expanded; and the Company will be able to continue to adopt new and widely accepted Solutions.
Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that our assumptions on which our forward-looking information is based may not be accurate or be realized; the effect of competition; the risk of changes in government regulation which may be adverse to the Company's business; the Company's significant reliance on its relationship with one digital platform; the risk that Mr. Samy may not take up his appointment on January 1st or at all; litigation risk; that the Company has a history of losses and negative cash flow; and the impact of the continuing COVID-19 pandemic; as well as the factors discussed under "Risk Factors" in the final prospectus of the Company dated October 22, 2020, and in its Annual Information Form dated March 28, 2021 filed on sedar at www.sedar.com and in the Company's other filings with the Canadian securities regulatory authorities at www.sedar.com. The Company does not undertake any obligation to update any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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