Latest news with #KaleegHainsworth
Yahoo
27-03-2025
- Business
- Yahoo
Legible Announces $4M Financing Round with Strategic Lead Investment and Capital Structure Enhancements
VANCOUVER, British Columbia, March 27, 2025 (GLOBE NEWSWIRE) -- Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) ("Legible' or the 'Company"), a consumer brand with an entertainment and education platform that uses AI and technology as a tool, today announced a non-brokered private placement offering of Units of the Company at $0.03 per Unit for gross proceeds of up to approximately $4,000,000 (the 'Offering'), pursuant to exemptions under applicable Canadian securities laws. Each Unit will consist of one common share ('Common Share') and one common share purchase warrant ('Warrant'). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.05, exercisable at any time prior to 5:00 p.m. (Pacific time) on the date that is two (2) years from the closing date. The Warrants are subject to acceleration: should the volume-weighted average trading price of the Common Shares on the Canadian Securities Exchange ('CSE') equal or exceed $0.25 for 15 consecutive trading days, the Company may accelerate the expiry date upon issuing a press release, giving Warrant holders no less than 15 trading days' notice. The Offering is expected to have a first close on or about April 3, 2025, subject to customary closing conditions, and may be completed in tranches. The Company reserves the right to increase or decrease the total gross proceeds. A finder's fee of up to 8% in cash may be paid on all or a portion of the Offering. In addition, the Company may issue finders' warrants equal to up to 8% of the number of units sold, with each finder's warrant exercisable at $0.05 for two years, subject to the same acceleration terms noted above. In accordance with CSE requirements, the Company has received written consent to the Offering from 24 shareholders, representing approximately 53.3% of the Company's outstanding Common Shares, totaling 75,215,608 out of 141,101,803 shares. 'This Offering is more than capital, it's a catalyst for scale. With global distribution partnerships, a suite of innovative products including celebrity-led Living Books and AI-powered infotainment apps, and increasing traction across automotive and publishing verticals, these funds will accelerate our growth trajectory,' said Kaleeg Hainsworth, Founder and CEO of Legible. 'We've received an expression of interest for a $1.2 million lead investment, subject to a minimum $2 million close, which is expected to include a portion of debt conversions into equity, an important step in optimizing our balance sheet and positioning the Company for growth. This Offering will fortify our capital structure and allow us to execute on a range of high-impact initiatives designed to drive recurring revenue and expand market share." Use of ProceedsThe net proceeds of the Offering will be used to support Legible's ongoing growth and operational initiatives. This includes investment in technology development, product and feature enhancements, targeted marketing and user acquisition campaigns, and general working capital. In addition, the Company intends to complete select debt-to-equity conversions, which will strengthen Legible's capital structure by reducing liabilities and optimizing the balance sheet. These conversions position the Company for future financing opportunities, enhances financial flexibility, and supports long-term value creation for shareholders. In alignment with this new phase of growth, the Company anticipates thoughtful enhancements to its board and leadership structure to further strengthen execution, governance, and strategic reach. About Legible Inc. Legible is a consumer brand with an entertainment and education platform that uses AI and technology as a tool to redefine how people discover, access, and engage with digital books. At the core of its emerging platform is LegibleOS™, the Company's proprietary operating system that powers intelligent AI content management, delivery, and personalized user experiences, with seamless engagement across mobile, web, and in-vehicle environments. LegibleOS offers authors and publishers the turn-key opportunity to embed AI interactive content, video and audio, directly into digital books, available exclusively on Legible's platform. Legible is also a groundbreaking publisher delivering world-first AI-interactive rich media-enhanced Living Books and audiobooks that integrate ecommerce and social media opportunities and have been featured on major US media, including the Drew Barrymore Show, one of the highest rated US talk shows with millions of viewers. The Company holds strong partnerships with major publishers and global distributors, offering a catalog of millions of titles across direct-to-consumer and B2B channels. Legible is also a first mover in automotive infotainment, enabling immersive in-car reading through partnerships with leading in-vehicle technology platforms. Named the 2024 EdTech Breakthrough Award for eLearning Innovation of the Year, Legible is redefining the future of interactive learning and entertainment by combining content innovation, platform intelligence, and strategic distribution. Visit where books meet technology. Press Contact:Ms. Deborah HarfordEVP, Global Strategic Partnershipsinvest@ Tel: (604) 283-2028 Cautionary Note Regarding Forward Looking InformationThis Press Release contains certain statements which constitute forward-looking statements or information ('forward-looking statements'), including statements regarding Legible's business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. NOT FOR DISTRIBUTION IN THE US
Yahoo
13-02-2025
- Business
- Yahoo
Legible & CAMB.AI Unlock New Revenue Streams with Global Multilingual Audiobook Access
VANCOUVER, British Columbia and DUBAI, United Arab Emirates, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T). On Wednesday, February 12, 2024 ("Legible' / 'Company'), and Ltd. (' signed an agreement to enhance the digital reading experience, leveraging artificial intelligence ('AI') on demand to instantly convert millions of eBooks into high-quality audiobooks in over 160 languages. This accessibility tool is poised to unlock global markets, delivering previously unavailable content to readers around the world. With millions of eBooks available across all genres, this collaboration represents an extraordinary market opportunity—hundreds of millions of hours of potential audiobook content available to readers anytime, anywhere as seamless reading and listening experiences, —enabling publishers and authors to reach international audiences with new speed, efficiency, and savings. AI-driven voice localization and instant translation technologies will be integrated into Legible's platform, enhancing the accessibility and commercial viability of every eBook. 'This is an exciting development in accessibility for books,' said Kaleeg Hainsworth, CEO of Legible. 'By partnering with we're enabling publishers and authors to create high-quality, multilingual audiobooks faster and more affordably than ever before. With this integration, books on our platform can reach new markets in multiple languages faster than ever before and can do so across any device, expanding access and revenue potential globally.' This AI-driven solution will be commercialized as a premium add-on to Legible's subscription service, and also accessible via Legible's apps, browser-based platform, and in-car infotainment systems, with revenues and savings being directly passed on to publishers and authors. This ensures a truly international accessibility offering, enhancing the reading experience for users worldwide. User Journey & Offering: Instant toggling between eBook text and audiobook mode. AI-powered voice synthesis delivering narration in over 160 languages. Publishers retain full control, ensuring opt-in participation without disruption. Traditional audiobook production costs can be substantially reduced while maintaining professional quality including tone and intonation. Voice actors can license their voices for AI-generated narrations, ensuring fair compensation and ethical AI integration. 'Legible's vision aligns perfectly with our mission to eliminate language barriers and promote global literacy,' said Akshat Prakash, CTO & Co-Founder of 'Our proprietary AI models enable publishers and content creators to instantly translate their works into multiple languages, reaching wider audiences on an unprecedented scale via Legible's platform.' By drastically lowering audiobook production costs for multiple language audiences, while maintaining voice quality, this partnership removes long-standing barriers in the publishing industry. Authors and publishers can now reach international markets in record time, tapping into new revenue potential. Legible and are committed to ethical AI use, ensuring publishers and voice actors retain full control in this ecosystem. This guarantees creative integrity, fair compensation practices, and a sustainable model for the future of publishing. About in 2022, leads content localization with a five-year foundation in advanced AI research in speech and translation. Our team comprises AI experts from top level companies and institutions. We've pioneered the zero-shot AI Dubbing platform, delivering hyper-realistic content translation in 160+ languages. empowers content creators and owners across media, sports, and education, to transcend language barriers and make content universally relatable on a global scale. About LegibleLegible is a mobile-centric global company specializing in eBooks and audiobook entertainment. Its extensive partnerships encompass four of the Big 5 Publishers, the world's largest eBook distributor, and a wide range of outstanding and innovative publishers of all sizes, enabling Legible to seamlessly deliver millions of multilingual eBooks and audiobooks, transforming any smart device into a source of cutting-edge infotainment. Legible is advancing mobile-centric eBook and audiobook experiences with interactive AI-driven content in Living Books, including comics and manga. Legible's recent release, FrankensteinAI, third in the Company's AI Classics series, reimagines Mary Shelley's masterpiece with animated AI art developed by digital artist Remo Camerota and immersive character-driven AI chat, offering readers a uniquely engaging journey through the classic horror tale. Legible is also the exclusive publisher of the My Model Kitchen series of video-enriched Living Cookbooks by former supermodel, talk show host, bestselling author, and celebrity chef, Cristina Ferrare, with an embedded AI Sous Chef for each recipe, which have been featured three times on the Drew Barrymore Show and in many other major US media outlets. As a first mover in the rapidly expanding automotive infotainment market, Legible has partnered with media providers Appning by FORVIA, Harman Ignite, LiveOne, ACCESS Twine4Car, and Visteon. Legible has the only Android Automotive app with the capacity to deliver both audiobooks and eBooks to drivers and passengers into tens of millions of vehicles around the globe, positioning Legible at the forefront of the new world of in-car infotainment experiences. The 2024 EdTech Breakthrough Award winner for eLearning Innovation of the Year, Legible is reshaping the digital publishing landscape, committed to gaining a significant market share by providing innovative 21st-century publishing solutions and enriching global reading experiences. Becoming a member of Legible Unbound for only US$9.99 provides readers access to unbeatable value on unlimited reading and listening, plus exclusive member-only access to Legible's unique Living Books. Please visit and discover the place where eBooks come to life. Contacts Legible Deborah Harford, EVP, Global Strategic PartnershipsTel.: +1-604-283-2028Email: invest@ Krupp Kommunications, Kathy Giaconia, VP Media RelationsTel.: +1-213-324-5665Email: kgiaconia@ Grigorij Richters, PREmail: grig@ Katie CaseEmail: katie@ Website: Cautionary Note Regarding Forward Looking InformationThis Press Release contains certain statements which constitute forward-looking statements or information ('forward-looking statements'), including statements regarding Legible's business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary in to access your portfolio
