|By Marketwired .||
|July 2, 2014 04:49 PM EDT||
LONDON, ONTARIO -- (Marketwired) -- 07/02/14 -- iLOOKABOUT Corp. (TSX VENTURE:ILA) ("iLOOKABOUT" or "the Company") announced today that, subject to the approval of the TSX Venture Exchange, the Company will issue 110,316 Common Shares to settle $17,652 of accrued dividends on its Series 1 Preference Shares (the "Preference Shares"). In March 2012, the Company issued 750,000 Preference Shares by way of a private placement. The Preference Shares provide for settlement of unpaid dividends by the issuance of Common Shares instead of cash at the option of the holder. iLOOKABOUT has received notices to convert unpaid dividends totaling $17,652 from eleven Preference Share holders, six of which are currently Insiders of the Company. The Dividend Conversion Rate is the aggregate amount of accrued dividends to be converted, divided by the Market Price of the Common Shares on the business day before such conversion right is exercised. As the closing market price of the Common Shares on June 30, 2014 was $0.16, the Company will issue 110,316 Common Shares to settle accrued dividends being converted.
iLOOKABOUT is a visual and data intelligence company serving commercial enterprise in the real estate, insurance, municipal, utility, assessment and appraisal sectors in North America and Europe. iLOOKABOUT is a pioneer in visual and data intelligence with its StreetScape(TM) and Virtual Tour products. StreetScape is a visual and data intelligence product for the geo-spatial market, providing panoramic, comprehensive, street level perspective visual data, geo-coded with latitude and longitude coordinates for accuracy and supported by patented software processes and proprietary security and storage systems. The Company has also launched GeoViewPort(TM), a web-based Geographic Information System ("GIS") application that enables the federation of additional value added data such as validated addresses, aerial imagery, property values, property attributes, etc. with StreetScape imagery. Headquartered in London, Ontario, Canada, iLOOKABOUT's common shares are traded on the TSX Venture Exchange under the symbol ILA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
May. 29, 2016 07:00 AM EDT Reads: 2,282
May. 29, 2016 06:45 AM EDT Reads: 2,925
May. 29, 2016 06:30 AM EDT Reads: 610
May. 29, 2016 06:00 AM EDT Reads: 2,152
May. 29, 2016 06:00 AM EDT Reads: 1,334
May. 29, 2016 05:15 AM EDT Reads: 3,268
May. 29, 2016 05:00 AM EDT Reads: 1,965
May. 29, 2016 04:30 AM EDT Reads: 3,237
May. 29, 2016 03:30 AM EDT Reads: 971
May. 29, 2016 02:45 AM EDT Reads: 1,488
May. 29, 2016 02:30 AM EDT Reads: 1,337
May. 29, 2016 02:00 AM EDT Reads: 1,325
May. 29, 2016 01:45 AM EDT Reads: 2,635
May. 29, 2016 01:30 AM EDT Reads: 2,476
May. 29, 2016 01:15 AM EDT Reads: 1,354