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Boardwalktech Closes $1.6 Million Non-Brokered Private Placement
Boardwalktech Closes $1.6 Million Non-Brokered Private Placement Canada NewsWire ...
About this update from Boardwalktech Software Corp.
[{"type":"text","content":"\n\n\n\nBoardwalktech Closes $1.6 Million 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\n\nCanada NewsWire\nCUPERTINO, CA, March 11, 2020\n\n\n\nCUPERTINO, CA, March 11, 2020 /CNW/ - (TSXV:BWLK;  OTCQB: BWLKF) – Boardwalktech Software Corp. (\"Boardwalktech\" or the \"Company\"), a leading digital ledger platform and enterprise software solutions company, is pleased to report that it has closed a non-brokered private placement of units (each, a \"Unit\") at a price of C$0.45 per Unit, for gross proceeds of C$1,573,240 (the \"Offering\") or approximately US$1,188,670, for a total issuance of 3,496,088 Units.  Each Unit is comprised of one common share of the Company and one half one common share purchase warrant of the Company. Each whole warrant is exercisable at a price of C$0.65 per share for a period of 24 months following the closing and will be subject to early redemption by the Company if the trading price of the common shares of the Company on the TSX Venture Exchange is greater than C$1.00 for 10 consecutive trading days. The Company paid aggregate finders' fees of C$44,640 and issued 99,200 finders' options with a term of 2 years and an exercise price of $0.45 to compensate finders who introduced purchasers under the Offering. \nThe Company intends to use the proceeds from the Offering for general corporate purposes plus the expansion and support of their sales and marketing initiatives. \nThe securities issued under the Offering will be subject to a four-month hold period in accordance with applicable securities legislation. The Offering is subject to TSX Venture Exchange final approval.\n\"Despite unique and challenging market conditions, we are very pleased that new and existing investors recognized the opportunity ahead of Boardwalktech and chose to participate in our financing.  This additional working capital will continue to support our efforts to accelerate closing of deals in our pipeline, with a focus on growth and achieving positive EBITDA in the next few months. We are very pleased to have our pri...