Major enhancements to the LibrarianAI include seamless discovery, reading, and interaction via precise, personalized recommendations. The LibrarianAI now has improved ability to comprehend complex literary queries, increasing proficiency in providing suggestions based on research topics. Readers can also now save and share LibrarianAI conversation threads via links, and create shareable literary journals, sets of book recommendations, and curriculum reading lists with links to books.
LibrarianAi is being installed throughout the Company's products and operations, including the forthcoming Legible Unbound membership, Wander app for offline reading, audiobook catalogues, and more. Legible is championing ethical AI use that honours the rights of publishers and authors on its platform.
The Company also announces that, further to its
This brings the total amount raised under the Private Placement to
Legible expects to close the final tranche of the Private Placement in the coming weeks. The Company intends to use the proceeds for general working capital purposes including technology development, product and feature releases, marketing awareness and conversion campaigns. All securities issued in connection with the Private Placement are subject to a hold period that expires on
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This Press Release contains certain statements which constitute forward-looking statements or information ('forward-looking statements'), including statements regarding Legible's business and the Private Placement. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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