NowVertical Completes Debt-to-Equity Conversions

Core Settlement Overview - NowVertical Group Inc. has settled historical obligations totaling CAD$3.025 million through the issuance of 9,168,418 Class A subordinate voting shares at a deemed price of$0.33 per share [1] - The settlement includes US$1,250,000 (CAD$1,792,875) to former owners of CoreBI S.A. and CoreBI S.A.S, with a lock-up period of 36 months for the shares issued [2] - An additional US$815,000 (CAD$1,172,703.50) was settled with former owners of Acrotrend Solutions Ltd., including key executives of NowVertical [3] Additional Settlements - The company issued CAD$60,000 worth of shares to Andre Garber, the Chief Development Officer, to settle an outstanding debt of US$151,200 related to a 2021 cash bonus [4] - Both Acrotrend Vendors and Andre Garber are subject to a 12-month lock-up period for the shares issued [5] Ownership Changes - Following the debt settlement transactions, Sandeep Mendiratta's ownership of subordinate voting shares will increase from approximately 10.3% to 11.8% [6][7] - The acquisition of shares by Mendiratta was completed for investment purposes in connection with the debt settlement [7] Regulatory Compliance - The press release is issued in compliance with National Instrument 62-104, requiring an early warning report to be filed [8] - The company aims to enhance cash flow flexibility and align management interests with shareholder value through these transactions [9] Company Profile - NowVertical Group Inc. is a global data and analytics company focused on transforming data into business value using AI [10]