Toronto, Ontario--(Newsfile Corp. - December 31, 2025) - Pool Safe Inc. (TSXV: POOL) ("Pool Safe" or the "Company") announces that the Company has received approval from the TSX Venture Exchange ("TSXV") for the extension of the Repayment Day (as defined below) of a senior secured debenture (the "Debenture") in the amount of $500,000 to a certain arm's length party (the "Lender") originally issued as part of a private placement that closed on May 6, 2021 (the "Financing"). The interest on the Debenture accrues at a rate of 12% per annum, payable in cash monthly in arrears on the last business day of each month, and up to the date on which the loan is redeemed in full and shall mature on May 6, 2026 (the "Repayment Day"). Previously, the Company amended the Repayment Day, which was originally December 31, 2022, to December 31, 2023, and then subsequently to December 31, 2024, and further to December 31, 2025. This is now a further amendment to the Repayment Day, pushing it out to May 6, 2026. All other terms of the Debenture remain unchanged.
In addition, the Company announces that it has received approval from the TSXV for the extension of the expiry date of a total of 1,600,000 outstanding common share bonus warrants (the "Bonus Warrants") originally issued as part of the Financing. Each Bonus Warrant entitles the holder thereof to purchase one common share in the capital of the Company at a price of $0.05 per Bonus Warrant. The Company has amended the expiration date of the Bonus Warrants to May 6, 2026. Previously, the Company amended the expiration date of Bonus Warrants, which was originally December 31, 2022, to December 31, 2023, and then subsequently to December 31, 2024, and further to December 31, 2025. This is now a further amendment to the expiration date of the Bonus Warrants, pushing them out to May 6, 2026. All other terms of the Bonus Warrants remain unchanged.
About Pool Safe Inc.
Pool Safe Inc. designs, develops and distributes a product known as LounGenie, which functions as a multipurpose personal poolside attendant. LounGenie by Pool Safe Inc. is designed to provide safety, convenience, and peace of mind for hotels, resorts, waterparks, and cruise ship guests. Conveniently located alongside pool or beach lounge chairs, the LounGenie is a unique way of providing vacationers with a comforting sense of security for their belongings, while offering the vendor opportunities to increase F&B sales, expedite customer service and drive revenue. For more information, please visit loungenie.com or poolsafeinc.com.
Pool Safe Inc. is a fully reporting publicly traded company which is listed on the TSXV under the symbol "POOL". Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Some of the statements in this press release that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of securities laws. Forward-looking statements include repayment of the Debenture; amendments to the Debenture and Bonus Warrants; and the potential exercise or expiry of Bonus Warrants.
These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. In developing the forward-looking statements in this press release, we have applied several material assumptions, including: the Company having sufficient operating cash flows existing on hand; no material adverse changes; the Company will remain in compliance with the Debenture and applicable TSXV regulatory requirements; and the Debenture will be repaid and the Bonus Warrants will be exercised or expire.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These risks and uncertainties include but are not limited to risks related to the Company not having sufficient operating cash flows on hand; the prevalence of material adverse changes; the Company will not remain in compliance with the Debenture and/or applicable TSXV regulatory requirements; and the Company will be unable to repay the Debenture.
These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Pool Safe Inc.
Steven Glaser
C.O.O. | C.F.O.
E: sglaser@poolsafeinc.com
T: 416-630-2444
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279315
Source: Pool Safe Inc.
