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KABN Systems raises $2,970,000 in Private Placement with $0.33 unit

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KABN Systems NA Holdings Corp., a Canadian Fintech company specializing in continuous online identity verification, management and monetization in Canada and the U.S., is raising gross proceeds of $2,970,000 through a private placement from a group of arm's-length U.S. family office and foreign investors.

Additional Information:

Company: KABN Systems NA Holdings Corp.
Website: http://www.KABNsystemsna.com
Stock Symbol: CSE: KABN
Date Published: Aug 18, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

KABN Systems NA Holdings Corp., a Canadian Fintech company specializing in continuous online identity verification, management and monetization in Canada and the U.S., is raising gross proceeds of $2,970,000 through a private placement from a group of arm's-length U.S. family office and foreign investors.

The company is placing 9 million units at $0.33 per unit, with each unit consisting of one share and one-half a warrant, with each full warrant exercisable at $0.37 for 24 months.

The proceeds of the financing, which the company expects to close on or before August 31st, will provide working capital to further accelerate the company's development, customer acquisition and business platform consisting of Liquid Avatar, KABN ID, KABN KASH and KABN's Visa Card program.

Ben Kessler, CEO, stated: "This agreement largely stems from the increasing recognition of Liquid Avatar as a potential game changer in the world of digital identity verification, management and monetization. We look forward to closing this financing over the next couple of weeks and continue to execute and deliver on our business programs.”

KABN Systems NA Holdings, through its wholly owned subsidiary KABN Systems North America, focuses on the verification, management and monetization of digital identity, through the use of its propriety technology suite, which is offered at no cost to consumers, generating revenues through permission-based partner programs.

The company offers 4 key products.

Liquid Avatar allows users to create high quality digital icons representing their online personas.

These icons, in conjunction with KABN ID, allows users to manage and control their Digital Identity and to use Liquid Avatars to share public and permission based private data when they want and with whom they want.

KABN ID is an Always On, biometric and blockchain based digital identity validation and verification platform allowing users to continuously and confidently prove themselves throughout the online community.

KABN Card is a Visa approved prepaid card program allowing users to manage both digital and fiat currencies and earn cashback and other loyalty incentives.

KABN KASH is a cashback, loyalty and engagement program that powers the KABN revenue ecosystem.

Users are able shop at some of North Americas top online merchants and receive cash back on their KABN Card, as well as receiving updates on special offers and unique deals exclusive to KABN KASH.

The company’s shares, which started trading on the CSE on June 4th following a reverse takeover, are currently trading at $0.22.

For more information, please visit the company’s website at www.KABNnaholdco.com or www.KABNsystemsna.com,
Contact Ben Kessler, CEO, at 647-725—7742 ext 700 or email ir@KABNsystemsna.com.

I’m Megan Edwards for Investmentpitch Media