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Legible Announces Cancellation of $0.14 Private Placement Unit Offering

Written by Customer Service on . Posted in Public Companies.

VANCOUVER, British Columbia, Nov. 26, 2024 (GLOBE NEWSWIRE) — Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) (“Legible” or “the Company”), a leading platform and innovator in digital literature, announces the cancellation of its previously announced October 24, 2024 Private Placement Unit Offering (“the Offering”) comprised of one common share at $0.14 (“Common Share”) and one whole Common Share purchase warrant entitling the holder to acquire one additional Common Share at a price of $0.14 (“Units”). See the Company’s Press Release dated October 24, 2024, for further details. The cancellation of the Offering is due to the investor who signed a subscription agreement for 11,500,000 Units failing to wire the Company the subscription amount of $1,610,000 after confirming multiple times, in writing, that the $1,610,000 would be wired to Legible.

About Legible

Legible is a groundbreaking, mobile-centric global company specializing in eBooks and audiobook entertainment. Its extensive partnerships encompass four of the Big 5 Publishers, the world’s largest eBook distributor, and a wide range of outstanding and innovative publishers of all sizes, enabling Legible to seamlessly deliver millions of multilingual eBooks and audiobooks, transforming any smart device into a source of cutting-edge infotainment.

Legible is revolutionizing mobile-centric eBook and audiobook experiences with interactive AI-driven content. Its latest release, FrankensteinAI, third in the AI Classics series, reimagines Mary Shelley’s masterpiece with animated AI art developed by digital artist Remo Camerota and immersive character-driven AI chat, offering readers a uniquely engaging journey through the classic horror tale. Legible is also developing My Model Kitchen, a series of video-enriched Living Cookbooks by former supermodel, bestselling author, and celebrity chef, Cristina Ferrare, with an AI Sous Chef for each recipe, which have been featured twice before on the Drew Barrymore Show and in many other major US media outlets.

As first mover in the rapidly expanding automotive infotainment market, Legible has partnered with media providers Faurecia Aptoide, Harman Ignite, LiveOne, and Visteon. Legible has the only Android Automotive app with the capacity to deliver both audiobooks and eBooks to drivers and passengers in tens of millions of vehicles around the globe, positioning Legible at the forefront of the new world of in-car infotainment experiences.

A recent EdTech Breakthrough Award winner for eLearning Innovation of the Year, Legible is reshaping the digital publishing landscape, committed to gaining a significant market share by providing innovative 21st-century publishing solutions and enriching global reading experiences. Please visit Legible.com and discover the place where eBooks come to life.

Press Contacts:

Legible Inc.
Ms. Deborah Harford
EVP, Global Strategic Partnerships
invest@legible.com
Website: https://invest.legible.com
Phone: (604) 283-2028

Cautionary Note Regarding Forward Looking Information

This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible’s control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

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