Auralite Commits Investment Into Developer of Virtual Reality Based Technology for Special Needs Education
VANCOUVER, British Columbia, April 13, 2020 (GLOBE NEWSWIRE) — Auralite Investments Inc. (TSX Venture-AAAA) (the “Company” or “Auralite”), is pleased to announce its $100,000 investment into Akiva Systems Inc. (“Akiva”). Pursuant to the investment, Auralite will acquire an aggregate of 1,000,000 common shares of Akiva (“Akiva Shares”) and 500,000 common share purchase warrants exercisable for an additional 500,000 Akiva Shares at a price of $0.40 for a period of 24 months from issuance.
About AkivaAkiva is a private early-stage developer of educational hardware and software for children with special needs, utilizing a virtual reality platform. The Akiva mission is to insure that every child with special needs has an affordable access to the educational system that enables them to develop their unique abilities to succeed and thrive. Akiva is building a SaaS technology company to become a global leader in special needs education, with focus on scale, availability and profitability. It is working to provide high system quality with their development of a global educational ecosystem using advanced VR and AI technologies that ensure consistent program delivery, while focusing on prescriptive analytics to mitigate current learning process deficiencies. Of equal importance is the Akiva social mandate – to ensure global access to the Akiva ecosystem to children and families regardless of economic circumstances, through partnerships with ASD not-for-profit organizations.ABOUT AURALITEAuralite is an investment issuer with interests in Singapore-based EVVO Labs Pte. Ltd., South Korea-based Fourth-Link Inc., and Canadian-based Champignon Brands.ON BEHALF OF AURALITE INVESTMENTS INC. BOARD OF DIRECTORS“Robert Meister”For more information contact:
(604) 351-6647Or Email: [email protected]
http://www.auraliteinvestments.com/Neither the 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 news release.This news release contains forward-looking statements including statements regarding any of the Auralite holdings or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.