EX-99.1 2 ex991-confirmnosvbexposure.htm EX-99.1

Ex 99.1

ASX / MEDIA RELEASE

Limeade Confirms No Exposure to SVB

Key Points:

•No assets on deposit with SVB

•Cash reserves held with Tier 1 / top grade US financial institutions

SYDNEY, Australia and Bellevue, Washington. – 14 March 2023 – Limeade (ASX: LME, or the Company), an immersive employee well-being company that creates healthy employee experiences, today provides an update on the closure of Silicon Valley Bank (SVB) and the appointment of the Federal Deposit Insurance Corporation (FDIC) as receiver at 9:00am (PST) on Friday, 10 March 2023.

Limeade wishes to confirm it has no cash exposure to SVB.

The Company is currently assessing potential exposure of its customers but given the majority of the Company’s FY22 revenues were from large enterprise well-being customers, the impact, if any, is anticipated to be immaterial.

This release dated 14 March 2023 has been authorised for lodgement to ASX by the Board of Directors of Limeade and lodged by Mr Danny Davies the Limeade ASX Representative.

– ENDS –

Contact Information

Company

Investor Relations / Media (AU)

Media (US)

Mr Henry Albrecht

Dr Thomas Duthy

Ms Amanda Lasko

Chief Executive Officer

Nemean Group for Limeade

Marketing Director

henry.albrecht@limeade.com

thomas.duthy@limeade.com

amanada.lasko@limeade.com

+1 425 908 0216

+61 402 493 727

+1 206 227 6907

To subscribe to the Limeade Email Alert Service please visit: https://investors.limeade.com/subscriptions/

About Limeade
Limeade is an immersive employee well-being company that creates healthy employee experiences. Limeade Institute science guides its industry-leading software and its own award-winning culture. Today, millions of users in over 100 countries use Limeade solutions to navigate the future of work. By putting well-being at the heart of the employee experience, Limeade reduces burnout and turnover while increasing well-being and engagement — ultimately elevating business performance. To learn more, visit www.limeade.com (ASX listing: LME). 

 

Limeade, Inc. Australian Registered Business Number 637 017 602, a public limited company registered under the Washington Business Corporation Act (UBI Number: 602 588 317). 

Disclosure

This ASX release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of any securities referred to herein in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful. Any securities referred to herein have not been registered under the US Securities Act of 1933, as amended (the "US Securities Act") and may not be offered or sold in the United States or to US persons absent registration or an applicable exemption from registration under the US Securities Act and applicable state securities laws. In addition, any hedging transactions involving the securities referred to herein may not be conducted unless in compliance with the US Securities Act.

Limeade, Inc.			ARBN 637 017 602			10885 NE 4th Street ∙ Suite 400 ∙ Bellevue ∙ WA 98004