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Venzee Announces Closing of Oversubscribed Private Placement
Venzee Announces Closing of Oversubscribed Private Placement Canada NewsWire VAN...
About this update from Jasperx Technologies Inc.
[{"type":"text","content":"\n\n\n\nVenzee Announces Closing of Oversubscribed 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\nVANCOUVER, Jan. 31, 2020\n\n\n\nVANCOUVER, Jan. 31, 2020 /CNW/ - Venzee Technologies Inc. (TSX-V: VENZ) (the \"Corporation\" or \"Venzee\") is pleased to announce that it has completed a non-brokered private placement (the \"Private Placement\") consisting of the issuance of 18,300,000 units of the Company (\"Units\") at a price of $0.05 per Unit, for aggregate gross proceeds to the Company of $915,000, as announced by the Company on January 29, 2020, oversubscribing the amount originally announced.\n\n \n  \n\n \nThe Company is very pleased by the support received in the oversubscribed Private Placement and believes such support reflects increasingly strong investor appreciation for Venzee's retail-focused growth model.\nEach Unit was comprised of one common share of the Company (\"Common Share\") and one common share purchase Warrant (\"Warrant\"), with each Warrant being exercisable for one Common Share at an exercise price of $0.10 per Common Share at any time up to 36 months following the closing date of the Private Placement. The Warrants are also subject to acceleration in the event the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange (\"TSX-V\") is equal to or greater than $0.20 for a period of 10 consecutive trading days. In such case, the Company may, but shall have no obligation to, accelerate the expiry time of the Warrants to a date that is 30 days following the date of issuance of a press release by Venzee announcing its intention to accelerate the expiry time.\nIn connection with the Private Placement, the Company has agreed to pay finders' fees to certain registered brokerage firms, comprising in the payment of an aggregate of $45,850, and in the issuance of an aggregate of 1,181,000 compensation warrants substantially upon the same terms and conditions as the Warrants.\nCommenting on the success of the Private Placement, Venzee's President & CEO John Abrams said, \"We are ex...