Magnet Forensics Files Preliminary Base Shelf Prospectus

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WATERLOO, ON, Oct. 25, 2021 /CNW/ - Magnet Forensics Inc. ("Magnet Forensics" or the "Company") (TSX: MAGT), a developer of digital investigation software used globally by public safety organizations and enterprises, announced today that it has filed a preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada.

The base shelf prospectus, when made final, will allow Magnet Forensics and certain of its securityholders to qualify the distribution by way of prospectus in Canada of up to C$950,000,000 of subordinate voting shares, preferred shares, debt securities, warrants, subscription receipts, units, or any combination thereof, during the 25-month period that the base shelf prospectus is effective. It is intended to provide Magnet Forensics with financing flexibility. The specific terms of any offering under the base shelf prospectus will be established in a prospectus supplement, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

A copy of the preliminary base shelf prospectus can be found on SEDAR at www.sedar.com.

About Magnet Forensics

Founded in 2010, Magnet Forensics is a developer of digital investigation software that acquires, analyzes, reports on, and manages evidence from digital sources, including computers, mobile devices, IoT devices and cloud services. Magnet Forensics' software is used by more than 4,000 public and private sector customers in over 90 countries and helps investigators fight crime, protect assets and guard national security.

Forward-Looking Statements

This news release may contain "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Forward-looking information is based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this news release, are subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, risks related to those factors discussed in greater detail under "Risk Factors" in the Company's supplemented PREP prospectus dated April 28, 2021 and under "Summary of Factors Affecting our Performance" section of the Company's MD&A for the three- and six-months ended June 30, 2021 ", both of which are available under the Company's SEDAR profile at www.sedar.com. Actual results could differ materially from those projected herein. Unless otherwise noted or the context otherwise requires, the forward-looking information contained in this news release is provided as of the date of this news release. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

SOURCE Magnet Forensics Inc.

Neil Desai, Tel: [phone], [email protected]