TSX.V Technology Company Announces Private Placement
The company has arranged a non-brokered private placement of up to 50 million units at a price of 10 cents per unit, for gross proceeds of up to $5-million. The company has the option to increase the size of the offering by up to 15 per cent at any time up to 48 hours before the closing the offering.
Each unit consists of one common share in the capital of the company and one common share purchase warrant, with each warrant exercisable into one common share at a price of 15 cents for a period of 18 months after closing of the offering.
In the event that the volume-weighted average trading price of the common shares on the TSX Venture Exchange equals or exceeds 20 cents per common share for any period of 15 consecutive trading days, the company may, at its option, within 10 business days following such 15-day period, accelerate the warrant expiry date by issuing a press release and, in such case, the warrant expiry date shall be deemed to be 5 p.m. ET on the 15th day following the issuance of the warrant acceleration press release.
About the Company:
The Company is a big data company for retail, brands and other organizations. The company's technology captures sales data sent from the POS (point of sale) to the receipt printer and scanner and then sends it to the cloud so it can be presented on a dashboard for key decision making.
The company is planning on integrating the technology to decentralized blockchains to further authenticate and validate the data collected.
NOTE : The deadine and closing is November 15, 2016.