Business
ProStar Holdings Announces Upsize and Closing of Non-Brokered Private Placement For Gross Proceeds of $775,000
GRAND JUNCTION, Colo., May 09, 2025 (GLOBE NEWSWIRE) -- (OTCQB: MAPPF) (TSXV: MAPS) (FSE: 5D00) P...
About this update from Prostar Holdings Inc
[{"type":"text","content":"ProStar Holdings Announces Upsize and Closing of Non-Brokered Private Placement For Gross Proceeds of $775,000\n\n\n\n GRAND JUNCTION, Colo., May 09, 2025 (GLOBE NEWSWIRE) -- (OTCQB: MAPPF) (TSXV: MAPS) (FSE: 5D00) ProStar Holdings Inc. (the \"Company\" or \"ProStar\n \n ®\n \n \") a world leader in Precision Mapping Solutions\n \n ®\n \n , is pleased to announce that, further to its news release dated May 5, 2025, it has closed its previously announced non-brokered private placement (the “Offering”) for gross proceeds of C$775,000, through the sale of 5,535,714 units (the “Units”) at a price of $0.14 per Unit (the “Offering Price”). The Company received approval from the TSX Venture Exchange (the “TSXV”) to increase the size of the Offering from C$750,000 to C$775,000 shortly before closing.\n \n\n Each Unit consists of one common share of the Company (each, a \"Common Share\", and collectively the \"Common Shares\") and one Common Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one common share of the Company (a \"Warrant Share\") at a price of C$0.20 per Warrant Share for a period of 36 months from the date of issuance thereof, provided that if the closing price of the Common Shares on any Canadian stock exchange on which the Common Shares are then listed is at a price equal to or greater than C$0.30 for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by issuing a press release or other form of notice permitted by the certificate representing the Warrants, announcing that the Warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than 30 days from the date notice is given.\n \n\n The Company will use the proceeds of the Offering to onboard resources designed to ramp up sales and marketing efforts and for general working capital requirements.\n \n\n\n “I am very pleased to announce the closing of this financing, which included strong participation from members of our Board and our existing shareholders,”\n \n stated Page Tucker, CEO and Founder of ProStar.\n \n “Following several strategic partnership announcements with key equipment manufacturers and technology providers, combined with increas...