TORONTO, May 04, 2026 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSXV:CLIP) ("Clip Money" or the "Company"), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce that, in support of strengthening its liquidity and maximizing working capital for future growth, it will (i) extend the maturity date (the "Maturity Date") of the first tranche of the previously issued unsecured convertible notes dated May 4, 2023 (the "First Tranche Convertible Notes") from May 4, 2026 to May 4, 2027 for all note holders who have consented to such extension, and (ii) offer an equivalent extension of the Maturity Date to all holders of the second tranche of the previously issued unsecured convertible notes dated June 14, 2023 (the "Second Tranche Convertible Notes" and, together with the First Tranche Convertible Notes, the "Convertible Notes") from June 14, 2026 to June 14, 2027.

For all Convertible Notes for which the note holders provide consent, the Company will reduce the conversion price (the "Conversion Price") from CAD$0.50 per common share of Clip Money (the "Common Shares") to CAD$0.40 per Common Share (collectively with the extension of the Maturity Date, the "Note Amendment").

The principal amount of the Convertible Notes, as amended, will continue to bear interest at a rate of 12% per annum compounded monthly. ...