April 24, 2024, 11:06 AM

Reklaim Cuts Debt by $100,000 Following Warrant Exercise

Reklaim (MYID.V), a consumer-data company, on Wednesday said it reduced its overall debt by 9.8%.

The company said the debt cut came on a $100,000 cash payment to a non-arms-length creditor. The cash came from the exercise of warrants by existing investors.

Reklaim says the debt reduction follows a year of strong financial performance for the company, highlighted by its first full year of profitability and record revenue of $1.4 million in Q4 2023, a 97% increase from the year-prior quarter.

The company's shares were last seen unchanged at C$0.125 on the TSX Venture Exchange.

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