Company Cautions LGIQ Stockholders - Brokerages Prematurely or Erroneously Crediting Stock Dividend to Accounts; Sale of Stock May Result in Failure to Deliver

Logiq, Inc. (OTCQB:LGIQ)

NYC, NY, USA, November 6, 2023 /EINPresswire.com/ -- Logiq, Inc. (OTCQX:LGIQ) announced the completion of the business combination involving its now former subsidiary, DLQ, Inc., and Abri SPAC I, Inc. (previously traded on Nasdaq as ASPA, ASPAW and ASPAU as a special purpose acquisition company).

The newly combined company was renamed Collective Audience, Inc. to reflect its innovative performance marketing platform designed to identify, convert and monetize the collective audience of leading brands and publishers.

Collective Audience’s common stock began trading on November 3, 2023 on the Nasdaq Capital Market under the new ticker symbol, CAUD.

Special Dividend Distribution
In connection with the closing of the business combination, on November 2, 2023, Logiq declared a special dividend distribution of 3,762,000 shares of Collective Audience common stock to Logiq stockholders of record as of the dividend record date (October 24, 2023). The dividend will be distributed at a ratio of 0.027 shares of Collective Audience common stock per each one share of Logiq common stock.

The dividend distribution process has begun, but no dividend of Collective Audience common stock has been issued or delivered to Logiq shareholders as of today’s date. The actual delivery date and receipt of the dividend by shareholders may be delayed in some instances due to administrative factors and timing may vary depending upon the number of Logiq shares held on the record date, where they were being held, as well as other factors.

Important Caution to Stockholders Who Believe They Have Already Received Shares
Logiq has received reports that certain brokerage firms have prematurely or erroneously credited their client's accounts with the dividend distribution of the Collective Audience shares. Further, some of these firms have facilitated the sale of the shares without having the actual shares in their possession, to the potential detriment of all shareholders including those at other brokerage firms who are adhering to well established regulatory policies and procedures.

Logiq expects any such sales of Collective Audience shares could result in a failure to deliver upon the trade settlement date. Logiq is investigating the matter and plans to pursue all corrective measures and remedies, legal or otherwise, as appropriate.

To be clear, no dividend shares have yet been delivered to any holders of record of Logiq that are entitled to receive such dividend distribution of shares as described in Logiq’s filings with the U.S. Securities and Exchange Commission (SEC).

Additional details regarding the business combination and the issuance of the dividend of shares is available in a Form 8-K as filed with the SEC and available on www.sec.gov under Logiq, Inc.

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Important Cautions Regarding Forward Looking Statements

This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the Safe Harbor created by those sections. This press release also contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation that relate to Logiq’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon.

These statements speak only as of the date of this press release. Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Logiq’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. In particular and without limitation, this press release contains forward‐looking statements regarding our ability to consummate a transaction with another potential merger candidate and subsequent ability to meet the listing requirements on either Nasdaq or NYSE, our ability to raise sufficient operating capital to adequately operate, our products and services, the use and/or ongoing demand for our products and services, expectations regarding our revenue and the revenue generation potential of our products and services, our partnerships and strategic alliances, potential strategic transactions, the impact of global pandemics (including COVID-19) on the demand for our products and services, industry trends, overall market growth rates, our growth strategies, the continued growth of the addressable markets for our products and solutions, our business plans and strategies, and the valuation and success of the businesses after completion of the transaction, if any, and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC) including its Annual Report on Form 10-K and any subsequent public filings.

Logiq undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Logiq to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

Company Contact:
Brent Suen
President &CEO
Logiq, Inc
Email contact

Investor & Media Relations:
CMA
Tel (949) 432-7566
Email contact

Brent Suen
Logiq, Inc.
+1 8088291057
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