Marble Financial Announces Bond Debt Restructuring to Strengthen Balance Sheet

Proposed restructuring of up to $5.766 million of debt.

Vancouver, British Columbia–(Newsfile Corp. – March 30, 2023) – Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE: 2V0) (“Marble” or the “Company”), an AI-driven financial technology company, is pleased to announce that it has proposed a debt restructuring involving its wholly owned subsidiary, TPF The Phoenix Fund Inc. (“TPF”) and the holders of TPF’s bonds (the “TPF Bonds”). As a result of the restructuring, an aggregate of up to $5,766,722 in principal amount of TPF Bonds and all accrued, unpaid and waived interest thereon, is proposed to be settled through a combination of debt forgiveness and the issuance of Marble common shares.

Karim Nanji, Marble’s Chief Executive Officer, states “We are extremely excited by this restructuring. On completion of the restructuring, the elimination of these short-term liabilities and the ongoing interest obligation associated with the bonds will greatly strengthen our balance sheet and financial position. This will give us a renewed flexibility to focus on the continued development and growth of our proprietary MyMarble Boost Program, Inverite verification business, AI-driven AccumulateAI and MyMarble platforms, and other opportunities that may arise as we gradually wind down the Fast-Track loan program.”

An aggregate of up to 43,397,690 Marble common shares may be issued pursuant to the restructuring. The Marble shares that are to be issued upon closing of the restructuring transaction will be subject to a statutory hold period of four months and one day from the date of issuance (the “Initial Hold Period”) and additional resale restrictions agreed to by bondholders such that 25% of the shares will be released from resale restrictions on completion of the Initial Hold Period and further releases of 25% of the shares every four months thereafter.

The Company expects to complete and close this bond debt restructuring in the next two weeks.

About Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE: 2V0):

About Marble Financial Inc. (CSE: MRBL) (OTC Pink: MRBLF) (FSE: 2V0): Marble is a leading provider of software-as-a-service (SaaS) solutions that empower businesses to acquire and use real -time financial data to better transact with consumers. Along with enabling smarter marketing ROI for partners seeking increased conversion rates to those consumers that require further monitoring, predictive financial recommendations, and guidance to rehabilitate them to transact in the future. Utilizing Marble’s proprietary and proven artificial intelligence data-driven technology platforms, Inverite, Accumulate.ai and MyMarble, businesses and consumers are empowered in real-time, access to a 360 financial profile that includes credit and banking data. Marble leverages machine learning, artificial intelligence, predictive financial recommendations, risk scores and open-banking strategies to put the power of financial data into the hands of businesses and consumers, promoting more robust relationships and higher intent toward future engagements.

For further information about Marble Financial, please visit: mymarble.ca.

Mike Marrandino, Executive Chairman
T:(855) 661-2390 ext. 104 Email: ir@marblefinancial.ca

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Caution Regarding Forward-Looking Information

This release contains forward-looking statements. Forward-looking statements, including with respect to the Company’s intention or ability to complete the proposed debt restructuring, the timing of closing the proposed debt restructuring, the actual amount of debt to be settled, and other statements related to completion and benefits of the debt restructuring. Forward-looking statements, without limitation, may contain the words beliefs, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements do not guarantee future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except for historical facts, the statements in this news release, as well as oral statements or other written statements made or to be made by Marble, are forward-looking and involve risks and uncertainties. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160519