Personas Social Inc (PRSNF)

[AveragePenny]

$PRSNF Personas Provides Update Q2 Interim Financial Statement

https://www.newsfilecorp.com/release/178946

Toronto, Ontario--(Newsfile Corp. - August 30, 2023) - [DATELINE]Personas Social Incorporated (TSXV: PRSN) (the "Company") announces that the June 30, 2023 consolidated financial statements ("Financial Statements") and Management's Discussion and Analysis ("MD&A") for the period ending ended June 30, 2023, have been filed with SEDAR.

The Company is proud to announce that the period ending ended June 30, 2023, saw a net profit of $72,403 compared to $80,710 for the six months ended June 30, 2022. Expenses increased from $741,200 in 2022 to $958,150 in 2023. Increase in expenses are mainly due to additional consulting expenses related to the Company's new product.

In anticipation of the upcoming re-launch of its Keek Social service, the Company has raised $1,150,000 CAD at price of 6 cents per unit. Each purchased share is accompanied by one-half a warrant at a strike price of 8 cents. The warrants are subject to an acceleration clause wherein warrant holders will be obliged to exercise their warrants if the Company's share price equals or exceeds 50 cents for 10 or more trading days. The CEO Mark Itwaru has once again taken part in the Company's financing efforts and has invested $150,000 in this round of financing.

Certain information provided in this news release is extracted from the Financial Statements and MD&A of the Company for the period ended June 30, 2023, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information.