CounterPath Announces $5 Million At-The-Market Equity Offering Program

About this update from Newpath Resources Inc

[{"type":"text","content":"CounterPath Announces $5 Million At-The-Market Equity Offering ProgramVANCOUVER, BC / ACCESSWIRE / August 28, 2020 / CounterPath Corporation (NASDAQ:CPAH)(TSX:PATH) (the \"Company\" or \"CounterPath\"), a global provider of award-winning Unified Communications and Collaboration (UCC) solutions for enterprises and service providers, is pleased to announce that it has filed a prospectus supplement with the Securities and Exchange Commission (\"SEC\"), pursuant to which it may offer and sell shares of its common stock (the \"Shares\") having an aggregate offering price of up to $5,000,000 from time to time through an \"at-the-market\" equity offering program (the \"ATM Program\"). The Company currently intends to use the net proceeds from sales of the Shares under the ATM Program for general corporate purposes, which may include repayment of indebtedness, increasing working capital or financing acquisitions and capital expenditures. The timing of any sales will depend on a variety of factors.The Shares will be offered through A.G.P./Alliance Global Partners (\"A.G.P.\"), as sole sales agent. A.G.P. may sell Shares by any method permitted by law deemed to be an \"at-the-market offering\" as defined in Rule 415 of the Securities Act of 1933, as amended, by means of ordinary brokers' transactions on the Nasdaq Stock Market and such other sales as agreed upon by the Company and A.G.P. Sales may be made at market prices prevailing at the time of the sale, at prices related to prevailing market prices or at negotiated prices and, as a result, sales prices may vary. No sales of Shares will be made in Canada, to anyone known by A.G.P. to be a resident of Canada or over or through the facilities of the Toronto Stock Exchange. Under the terms of the sales agreement entered into between the Company and A.G.P., A.G.P. will be entitled to a commission at a fixed rate of 3.0% of the gross proceeds from each sale of Shares under the agreement.The Company's prospectus supplement filed today with the SEC adds to, updates or otherwise changes information contained in the accompanying prospectus contained in a shelf registration statement on Form S-3 (File No. 333-236604) for the offering of Shares. Prospective investors should read the prospectus, the prospectus supplement and other documents the Company has filed with the SEC (some of which are inc...

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