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NTG Clarity Announces Closing of its Brokered LIFE Offering
(TheNewswire) NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Announces Closing of its Brokered LIFE Offering\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWS\nWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n Toronto, ON / September 27, 2024 –\n \n\n TheNewswire –\n \n\n NTG Clarity Networks Inc. (TSXV: NCI) (OTC:\nNYWKF) (\n \n\n the “\n \n\n Company\n \n\n ” or\n“\n \n\n NTG\n \n\n ”\n \n\n )\n \n\n , is pleased to announce the closing of its previously\nannounced brokered financing. Canaccord Genuity Corp. (the\n“\n \n\n Agent\n \n\n ”) acted as the sole agent and bookrunner on the\ntransaction, pursuant to which NTG issued an aggregate of 3,720,000\nunits (the “\n \n\n Units\n \n\n ”) at a price of C$1.40 per Unit, for\naggregate gross proceeds of C$5,208,000 (the “\n \n\n Offering\n \n\n ”).\n \n\n\n\n Each Unit consists of one common share (a\n“\n \n\n Common Share\n \n\n ”) and one-half of one Common Share purchase warrant of the\nCompany (each whole Common Share purchase warrant, a “\n \n\n Warran\n \n\n t”). Each\nWarrant is exercisable to acquire one Common Share of the Company (a\n“\n \n\n Warrant Share\n \n\n ”) at a price of C$2.00 per Warrant Share for a period of\n24 months following the date hereof.\n \n\n\n\n The Units were issued pursuant to the listed issuer\nfinancing exemption under Part 5A of National Instrument 45-106 –\nProspectus Exemptions. The securities offered under the listed issuer\nfinancing exemption will not be subject to a hold period, in\naccordance with applicable Canadian securities laws.\n \n\n\n\n The Company intends to use the net proceeds of the\nOffering to support the expansion and delivery of digital\ntransformation solutions through the Company’s Egypt Offshore Centre\nand Saudi sales office and for working capital and general corporate\npurposes.\n \n\n\n\n In connection with the Offering and as consideration\nfor their services, the Company paid to the Agent a cash commission of\nup to 6.0% of the aggregate gross proceeds of the Offering and issued\nto the Agent non‐transferable warrants of the Company (the\n“\n \n\n Broker Warrants\n \n\n ”) in an amount equal to 6.0% of the number of ...