Hello Pal Announces Fully Subscribed $1.6 Million Private Placement

·3 min read

Vancouver, British Columbia--(Newsfile Corp. - February 12, 2021) - Hello Pal International Inc. (CSE: HP) (FSE: 27H) (OTC Pink: HLLPF) ("Hello Pal" or the "Company"), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce a fully subscribed private placement financing of 4,000,000 units (each a "Unit") at $0.40 per Unit for gross proceeds of $1,600,000 (the "Offering").

Each Unit will consist of one common share of the Company and one-half of one share purchase warrant (each whole share purchase warrant a "Warrant"), with whole Warrant exercisable at $0.60 per share for a period of two years from the date of issue.

The shares issued under the Offering will be subject to restrictions on resale for a period of four months and a day from the date of issue.

Hello Pal will use the proceeds of the Offering for growth initiatives of its Hello Pal ecosystem as well as working capital purposes.

The Company also announces that it has engaged GRA Enterprises LLC ("GRA") to provide investor communication and media services to the Company. The Company has agreed to pay GRA US $50,000 for these services and GRA will provide the services over a six month term. GRA is controlled by Gerard Adams. Neither GRA nor Mr. Adams owns any shares in the capital of the Company.


To download Hello Pal please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: investors@hellopal.com.

About the Hello Pal Platform

The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.

Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.


To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74408