Business
Africa Hydrocarbons Announces Proposed Private Placement of Up to $275,000 Worth of Common Shares
(via TheNewswire) Calgary, Alberta / TheNewswire / October 27, 2017 - Africa Hydrocarbon...
About this update from Blockchaink2 Corp.
[{"type":"text","content":"Africa Hydrocarbons Announces Proposed Private Placement of Up to $275,000 Worth of Common Shares(via TheNewswire)\n\n \nCalgary, Alberta / TheNewswire / October 27, 2017 - Africa Hydrocarbons Inc. (NFK.H: NEX | KNPRF: PNK | KRL1: STU) (\"AHI\" or the \"Company\") announces its intention to complete a non-brokered private placement (the \"Private Placement\") to up to 450,819 common shares (\"Shares\") of the Company at a price of CAD$0.61 per Share for gross proceeds of up to CAD$275,000. \n\n \n \nThe net proceeds from the Private Placement will be used in connection with continued operations of the Company and examining what financial and strategic alternatives may be available to the Company and towards general and administrative expenses. \n\n\n \nThe securities issued in connection with the Private Placement are subject to a hold period of four months and one day from the closing of the Private Placement. The Private Placement is subject to certain conditions, including approval of the NEX Board of the TSX Venture Exchange (the \"NEX\").\n\n\n \nThe Company may pay a commission or finder's fee to eligible parties in connection with the Private Placement, subject to the approval of the NEX and compliance with applicable securities laws.\n\n \n \nAbout the Company \n\n \n \nAfrica Hydrocarbons Inc. is a Canadian based Issuer listed on the NEX board of the TSX Venture Exchange. As per the Company's September 27, 2017 press release, the Company is seeking to complete a \"change of business\" transaction (a \"COB Transaction\") in accordance with the policies of the TSX Venture Exchange (the \"Exchange\"), that would allow it to graduate from the NEX and back up to the Exchange. The preference of management of AHI would be to complete a COB Transaction that would transform the Company into a technology company, with a focus on blockchain technologies, digital currency mining, data centers, hosting facilities, software and services, or the like. If the Company can identify those assets and / or companies that would enable it to complete a COB Transaction, and is able to come to terms to acquire such assets and / or companies, then the Company will be required to raise additional financing in order to complete such a COB Transaction in accordance with the policies of the Exchange.\n\n \n \nAHI is in the early stages of identifyin...