VANCOUVER, BC, CANADA, May 18, 2022 /EINPresswire.com/ — HPIL Holding (OTC: HPIL) is pleased to announce that it has secured a $CAD 32 million capital commitment from GEM Global Yield LLC SCS (“GEM”), for a 36-month term following the public listing of the Company’s common stock on the Canadian Stock Exchange (CSE). HPIL intends to use the funds to strengthen its business by providing the financial resources to develop its business segments and markets as well as to incubate further technologies. The share subscription facility will allow HPIL to draw down funds against the issuance of shares of HPIL’s common stock. HPIL will control the timing and the size of such drawdowns, subject to specified limits. The Company has issued warrants to GEM to purchase up to three point eight (3.8%) of the outstanding common stock of the Company on a fully diluted basis which will vest in full concurrently with a public listing of HPIL’s shares. During the commitment period, HPIL has the option to increase the facility to $CAD 75.5 million, subject to certain terms and conditions.
“This agreement with GEM helps to secure funding for continued growth and development of the Company as we continue to bring innovative technologies to our key business segments, ” stated Stephen Brown, CEO of HPIL.
“We are excited to be working with GEM and their excellent team and look forward to achieving significant milestones in 2022 and 2023 as we move forward with our business strategy and take advantage of the opportunities that are available to the Company,” stated Stephen Brown, CEO of HPIL.
ABOUT GEM: Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group based in Paris, New York and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 520 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity prole. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments. For more information: http://www.gemny.com
ABOUT HPIL: HPIL Holding is a worldwide diversified company developing projects with innovative technology that strongly believes in its slogan: WHERE THE HUMAN ELEMENT MEETS THE FUTURISTIC MIND. The Company has a well-versed project slate such as Apogee Dynamics, World Gaming Group, Medusa Artificial Intelligence, NFT Procurement, ZIPPA and Humm Token. www.hpilholding.ca
Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The “Act”). In particular, when used in the preceding discussion, the words “pleased,” “plan,” “confident that,” “believe,” “expect,” or “intend to,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company’s products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company’s SEC reports and filing.
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