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TOTAL PLAY ANNOUNCES REVENUE OF Ps.10,843 MILLION AND EBITDA OF Ps.5,083 MILLION IN THE FIRST QUARTER OF 2025

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1 year ago

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—Capex for the quarter was equivalent to 24% of the company’s revenue, compared to Capex equivalent to 30% of revenue a year ago—

—EBITDA less Capex reached a record high of Ps. 2,482 million in the period—

 —EBITDA less Capex and interest was Ps.587 million in the quarter, more than double from Ps.237 million a year ago—

MEXICO CITY, April 29, 2025 /PRNewswire/ — Total Play Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), a leading telecommunications company in Mexico, which offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, announced today financial results for the first quarter of 2025.

“We were able to further boost our solid cash flow generation — defined as EBITDA less Capex less interest paid — which totaled Ps.587 million this quarter, more than double the prior-year figure, and which represents the fifth consecutive quarter of significant cash generation at Total Play. This positive performance this period comes amid solid progress on cost reduction initiatives that strengthened EBITDA, along with Capex, which represents only 24% of our revenues,” commented Eduardo Kuri, CEO of Total Play. “The significant cost reduction also further boosted profitability, with a six-percentage-point increase in gross margin to 85% and a two-percentage-point increase in EBITDA margin to 47% this period.”

“On the balance sheet, we announced on April 14th the successful placement — among a limited number of investors — of US$200 million Additional Notes to Total Play’s US$821 million Senior Secured Notes due 2032 issued last February,” Mr. Kuri added. “The proceeds from the placement of the Additional Notes will be largely used to repay shorter-term debt, which translates into stability in the Company’s leverage levels and a neutral effect on our net debt. They also extend Total Play’s maturity profile and further strengthen our liquidity.”

First quarter results

Revenue for the quarter was Ps.10,843 million, compared to Ps.11,087 million for the same period last year. Total costs and expenses were Ps.5,760 million, 6% lower than Ps.6,099 million for the previous year.

As a result, Total Play’s EBITDA grew 2% to Ps.5,083 million, up from Ps.4,988 million a year ago; the quarterly EBITDA margin was 47%, two percentage points higher than the same quarter in 2024. The company recorded an operating profit of Ps.763 million, compared to Ps.836 million a year ago.

Total Play reported a net loss of Ps.1,961 million, compared to a loss of Ps.1,164 million in the same quarter of 2024. 

   Q1 2024 

   Q1 2025 

  Change 

Ps. 

%

Revenue from services 

$11,087

$10,843

$(244)

(2) %

EBITDA   

$4,988

$5,083

$95

2 %

Operating income 

  

Net result  

$836 

  

$(1,164) 

$763

  

$(1,961) 

$(73) 

  

$(797) 

(9)% 

  

(68)% 

Amounts in millions of pesos.

EBITDA: Earnings before interest, taxes, depreciation, and amortization.

Revenue from services

The company’s revenue decreased 2%, reflecting a 37% decline in revenue from its enterprise business and a 5% increase in sales from its residential segment.

Totalplay Residential’s revenue growth, to Ps.9,570 million, compared to Ps.9,078 million in the previous year, is due to a 9% increase in the number of subscribers to the company’s services compared to the same quarter of the previous year, reaching 5,328,703 — a figure that includes 68,036 small and medium-sized businesses — this period. The company believes that the number of users reached this quarter reflects its remarkable ability to offer technologically advanced internet services — with superior stability and speed — continuous innovation in its entertainment platform, and service excellence.

Compared to the previous quarter, the subscriber base increased by 108,921 users, in line with Total Play’s strategy of moderating subscriber growth.

Average revenue per subscriber (ARPU) for the quarter was Ps.597, compared to Ps.617 a year ago. The decrease in ARPU is largely related to a growing proportion of users with doble-play packages compared to triple-play users within the total residential subscriber base.

The number of homes passed by Total Play in Mexico at the end of this period was 17,625,585, a figure with minor variations compared to 17,568,145 a year ago. This reflects the company’s strategy of not investing in geographic coverage, in order to further strengthen cash flow generation.

Penetration — the proportion of homes passed by Total Play that have the company’s telecommunications services — was 30.2% at the end of the quarter, up from 27.9% a year ago.

Revenue from the enterprise business was Ps.1,273 million, compared to Ps.2,009 million in the previous year. The reduction is due to the completion of predetermined-duration projects scheduled to conclude this period.

Costs and expenses

Total costs and expenses decreased 6%, as a result of a 30% reduction in service costs and a 9% increase in general expenses.

The reduction in costs, to Ps.1,597 million, from Ps 2,295 million a year earlier, primarily resulted from lower costs for business projects concluded in the period, as well as lower content costs, partially offset by higher membership costs.

The increase in expenses, to Ps.4,163 million, from Ps.3,804 million, reflects higher maintenance and licensing expenses, partially offset by a reduction in personnel expenses.

EBITDA and net result

Total Play’s EBITDA was Ps.5,083 million, 2% higher than the Ps.4,988 million of the previous year.

Key variations below EBITDA were as follows:

An increase of Ps.168 million in depreciation and amortization, primarily resulting from user acquisition costs — telecommunications equipment, labor, and installation expenses.

An increase of Ps.627 million in the fair value of financial instruments, as a result of the prepayment of costs related to the issuance of Senior Notes due 2028 due to the completion of the exchange offer for such Notes — and the cancellation of the exchanged Notes — announced on February 10, 2025.

A growth of Ps.293 million in interest payable, consistent with an increase in the financial debt balance.

A foreign exchange loss of Ps.40 million this quarter, compared to a foreign exchange gain of Ps.410 million a year ago, as a result of a net monetary liability position in foreign currency, coupled with the depreciation of the peso against the dollar this period, compared to its appreciation the previous year.

Total Play reported a net loss of Ps.1,961 million, compared to a loss of Ps.1,164 million in the same period in 2024.

Balance sheet

As of March 31, 2025, the company’s debt with cost was Ps.60,806 million, compared to Ps.51,388 million in the previous year. This increase includes the subscription of an additional US$225 million as part of the exchange of US$821 million Senior Secured Notes due 2032, announced last February, the effect of the exchange rate depreciation on foreign currency-denominated debt during the period, and the issuance of Cebures.

Lease liabilities were Ps.3,917 million, 28% lower than the previous year’s Ps.5,459 million.

Cash and cash equivalents, as well as restricted cash held in trusts, was Ps.10,008 million, compared to Ps.4,860 million a year ago. As a result, the company’s net debt was Ps.54,715 million, compared to Ps.51,987 million a year ago.

The debt ratio — Net Debt / EBITDA for the last two quarters, annualized — was 2.59 times.

Total Play’s fixed assets — which include accumulated investments in fiber optic, telecommunications equipment, and subscriber acquisition costs, among other assets — were Ps. 85,944 million, compared to Ps. 61,693 million a year ago. The increase is related to the periodic recognition of the fair value of fixed assets — revaluation — under both, the Multi-Period Excess Earnings Method and the Market Approach.

In a follow-up event, on April 14, Total Play announced the successful placement of US$200 million Additional Notes to a limited number of investors, in addition to its US$821 million Senior Secured Notes due 2032, with an interest rate of 11.125%. The Additional Notes share the same characteristics — same contract, same guarantees, and fully fungible — as those of the Senior Secured Notes due 2032. The proceeds from the placement of the Additional Notes — in an all-cash transaction — will be used largely to repay shorter-term debt, extending Total Play’s maturity profile and further strengthening its liquidity.

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx.

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

Investor Relations:

Bruno Rangel

Rolando Villarreal

+ 52 (55) 1720 9167

+ 52 (55) 1720 9167

jrangelk@totalplay.com.mx

rvillarreal@totalplay.com.mx

Press Relations:

Luciano Pascoe

Tel. +52 (55) 1720 1313 ext. 36553

lpascoe@gruposalinas.com.mx

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I.  DE C.V. AND SUBSIDIARIES

CONSOLIDATED QUARTERLY INCOME STATEMENTS

(Millions of Mexican pesos)

1Q24

1Q25

Change

$

%

$

%

$

%

Revenue from services

11,087

100 %

10,843

100 %

(244)

(2 %)

Cost of services

(2,295)

(21 %)

(1,597)

(15 %)

698

30 %

Gross profit

8,792

79 %

9,246

85 %

454

5 %

General expenses

(3,804)

(34 %)

(4,163)

(38 %)

(359)

(9 %)

EBITDA

4,988

45 %

5,083

47 %

95

2 %

Depreciation and amortization

(4,152)

(37 %)

(4,320)

(40 %)

(168)

(4 %)

Operating profit 

836

8 %

763

7 %

(73)

(9 %)

Financial cost:

Interest revenue

69

1 %

56

1 %

(13)

(19 %)

Derivative financial instruments

(297)

(3 %)

(924)

(9 %)

(627)

n.m. 

Accrued interest expense

(1,477)

(13 %)

(1,770)

(16 %)

(293)

(20 %)

Other financial expenses

(42)

(0 %)

(200)

(2 %)

(158)

n.m. 

Foreign exchange gain (loss) – Net

410

4 %

(40)

(0 %)

(450)

(110 %)

(1,337)

(12 %)

(2,878)

(27 %)

(1,541)

(115 %)

Loss before income tax provisions

(501)

(5 %)

(2,115)

(20 %)

(1,614)

n.m. 

Income tax provision

(663)

(6 %)

154

1 %

817

123 %

Net loss for the period

(1,164)

(10 %)

(1,961)

(18 %)

(797)

(68 %)

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Millions of Mexican pesos)

As of March 31,

2024

2025

Change

$

%

$

%

$

%

Assets

CURRENT ASSETS

Cash and cash equivalents

2,138

3 %

7,132

6 %

4,994

n.m.

Restricted cash in trusts

2,722

3 %

2,876

3 %

154

6 %

Customers – net

4,177

5 %

2,902

3 %

(1,275)

(31 %)

Other accounts receivable

181

0 %

–

0 %

(181)

(100 %)

Derivative financial instruments

–

0 %

193

0 %

193

n.a.

Recoverable taxes

4,137

5 %

3,365

3 %

(772)

(19 %)

Related parties

319

0 %

297

0 %

(22)

(7 %)

Inventories

2,508

3 %

2,416

2 %

(92)

(4 %)

Prepaid expenses

593

1 %

576

1 %

(17)

(3 %)

Total current assets

16,775

20 %

19,757

18 %

2,982

18 %

NON-CURRENT ASSETS

Related parties

233

0 %

162

0 %

(71)

(30 %)

Property, plant and equipmente – Net

61,693

72 %

85,944

77 %

24,251

39 %

Rights-of-use assets -Net

4,492

5 %

2,849

3 %

(1,643)

(37 %)

Trademarks and other assets

2,093

2 %

2,458

2 %

365

17 %

Total non-current assets

68,511

80 %

91,413

82 %

22,902

33 %

Total assets

85,286

100 %

111,170

100 %

25,884

30 %

Liabilities and Stockholders’ Equity

SHORT-TERM LIABILITIES

Financial debt

4,555

5 %

9,240

8 %

4,685

103 %

Lease liabilities

2,457

3 %

2,367

2 %

(90)

(4 %)

Trade payables

14,708

17 %

12,718

11 %

(1,990)

(14 %)

Reverse factoring

1,743

2 %

1,483

1 %

(260)

(15 %)

Other payables and payable taxes

1,809

2 %

1,967

2 %

158

9 %

Related parties

1,026

1 %

1,195

1 %

169

16 %

Liabilities from contracts with customers

471

1 %

618

1 %

147

31 %

Interest payable

258

0 %

35

0 %

(223)

(86 %)

Derivative financial instruments

111

0 %

–

0 %

(111)

(100 %)

Total short-term liabilities

27,138

32 %

29,623

27 %

2,485

9 %

LONG-TERM LIABILITIES

Financial debt

46,833

55 %

51,566

46 %

4,733

10 %

Lease liabilities

3,002

4 %

1,550

1 %

(1,452)

(48 %)

Derivative financial instruments

–

0 %

–

0 %

–

0 %

Employee benefits

84

0 %

101

0 %

17

20 %

Deferred income tax

5,916

7 %

12,950

12 %

7,034

119 %

Total long-term liabilities

55,835

65 %

66,167

60 %

10,332

19 %

Total liabilities

82,973

97 %

95,790

86 %

12,817

15 %

STOCKHOLDERS’ EQUITY

2,313

3 %

15,380

14 %

13,067

n.m.

Total liabilities and stockholders’ equity

85,286

100 %

111,170

100 %

25,884

30 %

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Millions of Mexican pesos)

3 months period ended

March 31,

2024

2025

Operating activities:

Loss before income tax provision

(501)

(2,115)

Items not requiring the use of resources:

Depreciation and amortization

4,156

4,320

Employee benefits

9

9

Items related to investing or financing activities:

Accrued interest income

(69)

(56)

Accrued interest expense and other financial transactions

1,816

2,893

Unrealized exchange gain

(187)

(89)

5,224

4,962

Resources (used in) generated by operating activities:

Customers and unearned revenue

(274)

315

Other receivables

1

–

Related parties, net

65

53

Taxes to be recovered

4

353

Inventories

419

292

Advance payments

(64)

(76)

Trade payables

1,196

(906)

Other payables

394

298

Cash flows generated by operating activities

6,965

5,291

Investing activities: 

Acquisition of property, plant and equipment

(3,297)

(2,601)

Other assets

15

(234)

Collected interest

69

56

Cash flows (used in) investing activities

(3,213)

(2,779)

Financing activities:

Loans (paid) received

(538)

4,312

Leasing cash flows

(601)

(822)

Restricted Cash in Trusts

654

(488)

Reverse factoring

(491)

(107)

Derivative financial instruments

(1,561)

265

Interest payment

(1,454)

(1,895)

Cahs flows (used) generated in financing activities

(3,991)

1,265

Net increase (decrease) of cash and cash equivalents

(239)

3,777

Cash and cash equivalents at the beginning of the year 

2,377

3,355

Cash and cash equivalents at the end of the year 

2,138

7,132

 

View original content:https://www.prnewswire.com/news-releases/total-play-announces-revenue-of-ps10-843-million-and-ebitda-of-ps5-083-million-in-the-first-quarter-of-2025–302442065.html

SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.

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Pillsbury Notice of Data Breach

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2 hours ago

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July 18, 2026

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/pillsbury-notice-of-data-breach-302828892.html

SOURCE Pillsbury Winthrop Shaw Pittman LLP

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From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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3 hours ago

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July 18, 2026

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

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SOURCE Fibocom Wireless Inc.

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DR. PHONE FIX ANNOUNCES SECOND TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

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3 hours ago

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July 18, 2026

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, July 18, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that, further to its news release dated May 19, 2026 and June 24, 2026 (the “Prior News Releases”), it has closed the second tranche of its non-brokered private placement (the “Offering”) of convertible debenture units of the Company (each, a “Unit”). The Company issued 726 Units, at a price of $1,000 per Unit, for aggregate gross proceeds of $726,000. Each Unit is comprised of (i) one $1,000 principal amount unsecured convertible debenture of the Company (a “Convertible Debenture”) and (ii) 3,125 common share (“Common Share”) purchase warrants of the Company (each, a “Warrant”). Additional detail on the Offering, including terms of the Convertible Debentures and Warrants, is set out in the Prior News Releases.

In connection with the Offering, the Company paid a finder’s fee consisting of an aggregate cash fee of $50,820 and issued an aggregate of 317,625 common share purchase warrants of the Company (each, a “Finder’s Warrant”) to certain qualified arm’s length parties. Each Finder’s Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.22 prior to the date that is 24 months from the date of issuance.

All securities issued pursuant to the Offering, including any Common Shares issuable upon conversion of the Convertible Debentures or exercise of the Warrants and Finder’s Warrants, are subject to a statutory hold period of four months and one day from the closing of the Offering, in accordance with applicable securities laws and TSX Venture Exchange (the “TSXV”) policies. 

The Offering remains subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is a national, award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 44 retail locations nationwide through a standardized and scalable operating platform designed to support consistent execution across multiple markets, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a focus on responsible device lifecycle management, customer service, and operational discipline, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the final acceptance of the Offering by the TSXV; and the expected use of proceeds following the closing of the Offering. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; the TSXV will provide its final acceptance of the Offering; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV final acceptance for the Offering; the potential failure to complete the balance of the Offering or to raise the full anticipated gross proceeds; market conditions and investor demand for the Company’s securities; the Company’s inability to deploy the proceeds as currently intended; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further 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 placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

 

SOURCE Dr. Phone Fix

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