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Last Mile Holdings Closes Second and Final Tranche in C$7,800,000 Oversubscribed Non-Brokered Private Placement
Last Mile Holdings Closes Second and Final Tranche in C$7,800,000 Oversubscribed Non-Brokered Private Placement.
About this update from Azn Capital Corp
[{"type":"text","content":"\n\n\n\nLast Mile Holdings Closes Second and Final Tranche in C$7,800,000 Oversubscribed Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nLast Mile Holdings Closes Second and Final Tranche in C$7,800,000 Oversubscribed Non-Brokered Private Placement\nCanada NewsWire\nVANCOUVER, BC, Aug. 21, 2020\n\n\n\nVANCOUVER, BC, Aug. 21, 2020 /CNW/ - Last Mile Holdings Ltd. (\"MILE\" or the \"Company\") (TSXV: MILE) (OTC: AZNVF), a leading micro-mobility company with the broadest product suite in the industry, is pleased to announce the closing of the second and final tranche of over $5.3 million (\"Final Tranche\") in its previously announced private placement of up to $7,000,000. \n\n \n \n \n \n \n \n\n \nThe Final Tranche consisted of a total of 70,723,078 units (the \"Units\") at a price of $0.075 per Unit for gross proceeds raised of $5,304,230. Each unit consists of one limited voting share and one share purchase warrant with each warrant exercisable at $0.11 per share until August 19, 2022, subject to acceleration at the option of the Company if closing price of the limited voting shares of the Company is at or above C$0.20 per share for ten consecutive trading days. In connection with the Final Tranche, the Company paid $187,132 and 2,495,101 broker warrants to certain finders. The broker warrants are exercisable for a period of two years at $0.075 per share. All shares and warrants issued are subject to a four-month hold period, expiring December 22, 2020.\nInsiders of the Company, including MILE chairman and significant shareholder Louis Lucido, participated for $1,650,000. \nThe net proceeds from the Offering will be used for general working capital purposes as well as to purchase approximately 4,000 new e-bikes and scooters, which will be deployed to meet contractual agreements with 10 municipalities and universities for shared mobility systems. \n\"With this funding in place, we are now firmly positioned to continue with our expansion efforts in both existing and targeted new markets,\" said MILE CEO Max Smith. \"O...