Pool Safe Announces Issuance of Short-Term Promissory Note
March 19, 2025 5:00 PM EDT | Source: Pool Safe Inc.
Toronto, Ontario--(Newsfile Corp. - March 19, 2025) - Pool Safe Inc. (TSXV: POOL) ("Pool Safe" or the "Company") announces that the Company's subsidiary company, 1974134 Ontario Inc. (the "Subsidiary") has entered into an agreement with a Lender (the "Lender") for a short-term Promissory Note (the "Promissory Note") in the amount of $300,000 to the Subsidiary.
Pursuant to the Promissory Note, the Subsidiary and the Lender have agreed to a term of 90 days, at an annual interest rate of 8%. The Subsidiary may prepay the principal amount of the Promissory Note in whole, or in part, at any time or from time to time without premium or penalty. The primary use of funds from the short-term financing is for additional inventory and component production.
About Pool Safe Inc.
Pool Safe Inc. designs, develops and distributes a product known as LounGenie, which functions as a multipurpose personal poolside attendant. LounGenie by Pool Safe Inc. is designed to provide safety, convenience, and peace of mind for hotels, resorts, waterparks, and cruise ship guests. Conveniently located alongside pool or beach lounge chairs, the LounGenie is a unique way of providing vacationers with a comforting sense of security for their belongings, while offering the vendor opportunities to increase F&B sales, expedite customer service and drive revenue. For more information, please visit loungenie.com or poolsafeinc.com.
Pool Safe Inc. is a fully reporting publicly traded company which is listed on the TSX Venture Exchange under the symbol "POOL". 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 release.
Forward-Looking Statements
Some of the statements in this press release that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company and the ability of the Company to appoint a successor auditor by September 30, 2024. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. The Company does not undertake any obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events, except as required by law.
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245243
© 2025 Newsfile Corp. All rights reserved.
