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LITE ACCESS CLOSES PRIVATE PLACEMENT FINANCING OF $835,500
LITE ACCESS CLOSES PRIVATE PLACEMENT FINANCING OF $835,500 Canada NewsWire ...
About this update from Ironman International Ltd.
[{"type":"text","content":"\n \n \n \n LITE ACCESS CLOSES PRIVATE PLACEMENT FINANCING OF $835,500\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE U.S.\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n March 28, 2022\n \n /CNW/ -\n \n LITE ACCESS TECHNOLOGIES INC.\n \n (the \"\n \n Company\n \n \") (TSXV: LTE) (OTC PINK: LTCCF\n \n )\n \n is pleased to announce that it has closed its previously announced non-brokered private placement by issuing 8,355,000 units (\"Units\") at a price of\n \n $0.10\n \n per Unit for gross proceeds of\n \n $835,500\n \n (the \"Financing\").\n \n \n Each Unit consists of one common share of the Company and one share purchase warrant (each a \"Warrant\"), with each Warrant entitling the holder to purchase one additional common share for a period of two years from the date of the issue at an exercise price of\n \n $0.15\n \n per share, subject to an accelerated expiry if the volume weighted average price of the Company's shares is equal to or greater than\n \n $0.25\n \n per share for a period of 30 consecutive trading days (the \"Acceleration Event\").  The Company will give notice to the holders of the Acceleration Event and the Warrants will expire 30 days thereafter.\n \n \n All securities issued under the Financing are subject to a four–month and one day statutory hold period expiring on\n \n July 26\n \n , 2022.  The Company paid finders fees totalling\n \n $57,535\n \n and issued a total of 574,350 Warrants.\n \n \n The proceeds of the Financing will be used to fund growth initiatives and for working capital purposes.\n \n \n This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be unlawful, including\n \n the United States of America\n \n . The securities being offered as part of the Financing have not been, and will not be, registered under t...