Business
Parkit: Correction to News Release Dated February 17, 2021
Toronto, Ontario--(Newsfile Corp. - February 17, 2021) - Parkit Enterprise Inc. (TSXV: PKT) (O...
About this update from Parkit Enterprise Inc.
[{"type":"text","content":"Parkit: Correction to News Release Dated February 17, 2021Toronto, Ontario--(Newsfile Corp. - February 17, 2021) - Parkit Enterprise Inc. (TSXV: PKT) (OTC: PKTEF) (\"Parkit\" or the \"Company\"), announces that the original news release captioned \"Parkit Completes $69 Million Bought Deal Private Placement Financing and $15 Million Concurrent Non-Brokered Private Placement\" published on February 17, 2021 referred, incorrectly, to Mr David Delaney having control of Delaney Capital Management Ltd. Mr. Delaney has no control over Delaney Capital Management Ltd. The number of shares of Parkit over which Mr. Delaney has control as referenced in the original news release is correct but such shares are held by Mr. Delaney personally and not through any control of Delaney Capital Management Ltd.Below is the corrected news release in its entirely with the relevant updates.PARKIT COMPLETES $69 MILLION BOUGHT DEAL PRIVATE PLACEMENT FINANCING AND $15 MILLION CONCURRENT NON-BROKERED PRIVATE PLACEMENTToronto, Ontario, February 17, 2021 - Parkit Enterprise Inc. (TSXV: PKT) (OTC: PKTEF) (\"Parkit\" or the \"Company\"), is pleased to announce that it has closed its previously announced (see press releases dated January 26, 2021) bought deal private placement (the \"Bought Deal Offering\") and the concurrent non-brokered private placement (the \"Non-Brokered Offering\" and together with the Bought Deal Offering, the \"Offerings\") of an aggregate of 88,421,058 common shares of the Company (\"Common Shares\") at a price of $0.95 per Common Share.The Bought Deal Offering consisted of 72,631,585 Common Shares for aggregate gross proceeds of approximately $69,000,000. The Bought Deal Offering was conducted by a syndicate of underwriters, co-led by Stifel GMP and Scotiabank and included Canaccord Genuity Corp., CIBC Capital Markets and Cormark Securities Inc. The Non-Brokered Offering consisted of 15,789,473 Common Shares for aggregate gross proceeds of approximately $15,000,000 issued to certain insiders of the Company and a president's list on the same terms as the Bought Deal Offering.The Company plans to use the net proceeds from the sale of Common Shares for future acquisitions and for general corporate purposes.The Common Shares will be subject to a hold period under applicable Canadian securities laws expiring on June 18, 2021.Related Party Tr...