IamFire Plc - Warrants Extension and WeShop Update

IamFire Plc - Warrants Extension and WeShop Update

PR Newswire

London, June 17

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IAMFIRE PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

IamFire plc

AQSE: FIRE

("FIRE" or the "Company")

Extension to Expiry Date of 158,333,333 Placing Warrants

Update on WeShop Holdings Limited

1.Extension to Expiry Date of 158,333,333 Placing Warrants

IamFire plc announces that it has extended the expiry date of the 158,333,333 placing warrants, exercisable at 10 pence per share, that were attached to placing shares, pursuant to its fundraising announced on 14 December 2021. The expiry date has been extended from 17 June 2022 until 17 December 2022. The extension covers the period that the Company believes will reflect the rapid scaling of the WeShop platform.

2. Update on WeShop Holdings Limited

The execution of the launch of the WeShop platform continues to progress very positively with further users accepted on to the platform and the introduction of 'Founder Influencers' being admitted and incentivised to introduce their followers to WeShop.

The Directors of the Company, who have issued this announcement after due and careful enquiry, accept responsibility for its content.

REGULATORY ANNOUNCEMENT ENDS

Enquiries:

Company:
[e-mail]

Peterhouse Capital Limited
Corporate Advisor:
Guy Miller: + 44 (0) 20 7469 0930 (Direct)

Corporate Broker
Lucy Williams: [phone]
Duncan Vasey: [phone] (Direct)

About WeShop:

WeShop is a social commerce platform that allows users to shop and help each other by reviewing, asking about or recommending products. It is affiliated to the vast majority of the UK's top 1,000 online retailers. Instead of rewarding the users with cashback, discount codes or vouchers, WeShop allows users to earn shares in the business.

WeShop intends to be 90% owned by its community of users, so the more users shop, recommend and refer friends the more shares they will own in WeShop and the more they will share in its financial success. Users of WeShop buy products from retailers through the platform as they would normally but in doing so they will earn shares in WeShop and benefit from aggregation as a community and the revenue streams generated from affiliate programs, data, promotion and advertising that the community through WeShop will generate.

WeShop intends to be the first truly shoppable social network owned by its community of users. By creating a disruptive online model it hopes to create a retail revolution which shares the financial success of online businesses with the users of those online businesses whose data, transactions and engagement has created them in the first place.