Business
DeepMarkit Announces Second Closing of Private Placement
(TheNewswire) Calgary, Canada - TheNewswire – Octobe...
About this update from Prospect Prediction Markets Inc.
[{"type":"text","content":"DeepMarkit Announces Second Closing of Private Placement \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n Calgary, Canada -\n \n \n \n \n TheNewswire\n \n \n \n \n –\nOctober 18, 2021 –\n \n \n \n \n DeepMarkit Corp.\n \n \n \n \n ,\n(“\n \n \n \n \n DeepMarkit\n \n \n \n \n \"\n \n \n \n \n or the\n\"\n \n \n \n \n Company\n \n \n \n \n \") (\n \n \n \n \n TSXV:MKT\n \n \n \n \n )\nannounces the closing of the second and final tranche of its\npreviously announced (September 14, 2021; September 29, 2021) private\nplacement.\n \n \n \n \n \n The second tranche of the non-brokered private\nplacement (the \"Private Placement\") consisted of\n \n \n 243,902\n \n \n Units (the\n\"Units\") at a price of CAD $0.205 per Unit for gross\nproceeds of\n \n \n $49,999.91\n \n \n .\nEach Unit comprises one common share and one common share purchase\nwarrant (each a \"Warrant\"). Each Warrant entitles the holder\nto purchase one additional common share of DeepMarkit at an exercise\nprice of CAD $0.75 for a period of two (2) years from the date of\nissuance of the Units.\n \n \n \n \n Completion of the Private Placement is subject to\nregulatory approval, including approval of the TSX Venture Exchange\nInc. (the \"Exchange”).  All shares and warrants issued\npursuant to the second tranche of the Private Placement, and any\nshares issued in connection with the exercise of warrants, will be\nsubject to a four month hold period expiring on February 19, 2022, in\naccordance with the policies of the Exchange and applicable securities\nlaws.\n \n \n \n \n Aggregate finder’s fees of $3,499.99 in cash were\npaid to Canaccord Genuity Corp. in connection with the second closing\nof the\n \n \n Private Placement. The finder’s fees\nrepresented 7% of the applicable subscription amounts.\n \n \n \n \n The total non-brokered private placement comprised\n \n \n 3,658,537\n \n \n Units for gross\nproceeds of\n \n \n $749,999.91\n \n \n .\n The net proceeds from the Private Placement will be used to fund\n \n \n continued business operations of the Company and\nthe Company's continued search for complementary business\nopportunities\n \n \n .\n \n \n \n \n Please see the Company's news releases dated September\n14, 2021 and September 29, 2021, as well as the material change report\nfiled by the Company on O...