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NowVertical Group Inc. Announces Closing of Upsized Public Offering of Units Including Full Exercise of Over-Allotment Option for Proceeds Of C$10.35M
NowVertical Group Inc. Announces Closing of Upsized Public Offering of Units Including Fu...
About this update from Nowvertical Group Inc
[{"type":"text","content":"\n \n \n \n NowVertical Group Inc. Announces Closing of Upsized Public Offering of Units Including Full Exercise of Over-Allotment Option for Proceeds Of C$10.35M\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 /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n TORONTO\n \n ,\n \n Dec. 15, 2021\n \n /CNW/ - NowVertical Group Inc. (TSXV: NOW) (\"\n \n NOW\n \n \" or the \"\n \n Company\n \n \") is pleased to announce the closing of its previously announced marketed public offering (the \"\n \n Offering\n \n \") of 10,894,756 units of the Company (the \"\n \n Units\n \n \") at a price of\n \n $0.95\n \n per Unit for gross proceeds of\n \n C$10,350,018\n \n . This amount includes gross proceeds from the full exercise of the over-allotment option granted to the Agent (as defined below) to purchase an additional 1,421,056 Units from the Company.\n \n \n \n \n \n \n \n \n \n The Offering was conducted on a \"best efforts\" basis by Echelon Wealth Partners Inc. (the \"\n \n Ag\n \n \n ent\n \n \"), as sole agent and bookrunner.\n \n \n Each Unit consists of one Class A subordinate voting share of the Company (each a \"\n \n Subordinate Voting Share\n \n \") and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \" and collectively the \"\n \n Warrants\n \n \"). Each Warrant is exercisable for one Subordinate Voting Share at a price of\n \n C$1\n \n .25 per Subordinate Voting Share for a period of 24 months following closing of the Offering. The Company has received approval from the TSX Venture Exchange (the \"\n \n TSXV\n \n \") to list the Warrants under the symbol \"NOW.WT\". The Warrants are expected to commence trading on the TSXV on the date hereof.\n \n \n The Company filed a short form prospectus in respect of the Offering with the securities commissions of each of the Provinces of\n \n Canada\n \n , except\n \n Quebec\n \n , on\n \n December 7, 2021...