Business
Venzee Announces Intention to Complete $2.0M Non-Brokered Private Placement of Units
Venzee Announces Intention to Complete $2.0M Non-Brokered Private Placement of Units ...
About this update from Jasperx Technologies Inc.
[{"type":"text","content":"\n\n\n\nVenzee Announces Intention to Complete $2.0M Non-Brokered Private Placement of Units\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, April 22, 2019\n\n\n\nVANCOUVER, April 22, 2019 /CNW/ - Venzee Technologies Inc. (TSX-V : VENZ) (\"Venzee\" or the \"Company\") is pleased to announce its intention to complete a non-brokered private placement (the \"Offering\") of units of the Company (\"Units\") at a price of $0.075 per Unit, for anticipated aggregate gross proceeds to the Company of approximately $2.0 million.\nEach Unit is expected to be 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 $0.15 per Common Share at any time up to 36 months following the closing date of the Offering. The Warrants will also be 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 $0.25 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 Offering, the Company intends to pay finders' fees to certain registered brokerage firms, comprising in the cash payment equal to 7% of the gross proceeds raised by purchasers introduced by such brokers, and in the issuance of non-transferable compensation warrants equal to 10% of the number of Units purchased by purchasers introduced by such brokers, such compensation warrants to be issued on substantially the same terms and conditions as the Warrants.\nThe net proceeds received by the Company from the Private Placement are expected to be used for general working capital purposes, further advancing our channel partnership business model.\nSubject to customary closing conditions, the Offering ...