TORONTO, June 15, 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 the closing of its amendment (the "Note Amendment") of the unsecured convertible notes of the Company issued on May 4, 2023 (the "First Tranche Convertible Notes") and June 14, 2023 (the "Second Tranche Convertible Notes" and, together with the First Tranche Convertible Notes, the "Original Notes"). As previously announced by the Company on May 4, 2026, the Company offered all holders of the Original Notes the opportunity to consent to the Note Amendment and enter into amended and restated notes (the "Amended Notes").

The Amended Notes extend the original maturity date of the Original Notes (the "Original Maturity Date") by 12 months, from May 4, 2026 to May 4, 2027 in respect of the First Tranche Convertible Notes, and from June 14, 2026 to June 14, 2027 in respect of the Second Tranche Convertible Notes. In addition, the Amended Notes 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.

The principal amount of the Amended Notes will continue to bear interest at a rate of 12% per annum compounded monthly. Other than the extension of the Original Maturity Date and the reduction of the Conversion Price, no other ...