Business
Gatekeeper Additionally Upsizes Financing to $6.5 Million
(TheNewswire) Abbotsford, BC - TheNewswire - October ...
About this update from Gatekeeper Systems, Inc.
[{"type":"text","content":"Gatekeeper Additionally Upsizes Financing to $6.5 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Abbotsford, BC -\n \n \n TheNewswire\n \n \n -\n \n \n October 9, 2020 - Gatekeeper Systems Inc. ('Gatekeeper' or the\n'Company') (TSXV:GSI) (OTC:GKPRF) (FSE:1GK)\n \n \n a\nleading provider of intelligent video solutions for public transport\nand smart cities, is pleased to announce that due to increased\ninterest in its previously announced non-brokered private placement\n(the \"Financing\"), the Company has additionally increased\nthe size of the Financing from $6 million to $6.5 million.\n \n \n \n \n The Financing will now consist of up to 6,500,000 units\n(each, a \"Unit\") at a price of $1.00 per Unit for gross\nproceeds of up to $6.5 million.\n \n \n Each Unit will\nconsist of one common share of the Company and one common share\npurchase warrant (each, a \"Warrant\"), with each Warrant\nentitling the holder to acquire an additional common share at a price\nof $1.10 for a period of twenty-four (24) months from the closing\ndate. Should the stock price trade over $1.35 per share for a period\nof ten consecutive trading days, the Company will have the right to\naccelerate the expiry of the Warrants by providing notice to the\nholders of the Warrants by news release that the Warrants will expire\non the date that is not less than 30 days from the date the notice is\nprovided.\n \n \n \n \n The Company intends to use the proceeds of the\nFinancing to finance growth initiatives, for general corporate\npurposes, and to accelerate sales and delivery of the Company's\nIntelligent Temperature Sensing Systems (ITSS) which has been designed\nto efficiently measure the body temperature of students while boarding\na school bus or entering schools.\n \n \n \n \n The Company has received an extension from the TSX\nVenture Exchange to close the Financing and anticipates completion on\nor before October 19, 2020.\n \n \n \n \n \n \n \n \n All securities issued in connection with the Financing\nare subject to a four month hold period under applicable Canadian\nsecurities laws. Closing of the Financing remains subject to\nacceptance of the TSX Venture Exchange.\n \n \n \n \n About Gatekeeper Systems Inc.\n \n \n \n \n Gatekeeper is a leading provider of intelligent video\nsolutions designed to provide a safer...