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GEEKCO CLOSES FIRST TRANCHE OF A PRIVATE PLACEMENT
GEEKCO CLOSES FIRST TRANCHE OF A PRIVATE PLACEMENT Canada NewsWire MONTRÉ...
About this update from Geekco Technologies Corporation Class A
[{"type":"text","content":"\n\n\n\n GEEKCO CLOSES FIRST TRANCHE OF A PRIVATE PLACEMENT\n \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 Canada NewsWire\n \n\n\n\n\n MONTRÉAL\n \n ,\n \n\n Feb. 3, 2025\n \n\n /CNW/ -\n \n Geekco Technologies Corporation\n \n (the \"\n \n Corporation\n \n \" or \"\n \n Geekco\n \n \") (TSXV: GKO) is pleased to announce that it has closed as of\n \n January 31, 2025\n \n the first tranche of a non-brokered private placement (the \"\n \n Private Placement\n \n \"). Under the first tranche of the Private Placement, the Corporation issued 7,000,000 units (\"\n \n Units\n \n \") at a price of $0.05 per Unit for aggregate gross proceeds of $350,000 out of a maximum of $600,000 (or 12,000,000 Units) to investors dealing at arm's length with the Corporation. Each Unit consists of one (1) Class A share of the share capital of the Corporation (each a \"\n \n Common Share\n \n \") and one (1) warrant (each a \"\n \n Warrant\n \n \"). Each Warrant entitles the holder to acquire one (1) additional Common Share at a price of $0.08 until three (3) years from their issuance date.\n \n\n The Corporation intends to use the net proceeds from Private Placement for general and working capital purposes.\n \n\n Any intermediary can receive a cash commission of up to 7% of the aggregate gross proceeds of subscriptions for the Private Placement submitted by this intermediary; and a commission in the form of intermediary warrants for an equivalent number of up to 7% of the number of Units issued under the Private Placement from subscriptions submitted by this intermediary. Each intermediary warrant will have the same terms as the Warrants included in the Units. In connection with the first tranche of the Private Placement, an aggregate of\n \n $2,800\n \n have been paid in cash and 56,000 of such intermediary warrants have been issued to intermediaries, all dealing at arm's length with the Corporation.\n \n\n All securities issued within the Private Placement are subject to a four-month and one-day resale restriction period from the closing d...