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RESAAS Announces Closing of Oversubscribed Non-Brokered Private Placement for $1,328,000
RESAAS Announces Closing of Oversubscribed Non-Brokered Private Placement for $1,328,000 ...
About this update from Resaas Services, Inc.
[{"type":"text","content":"\n \n \n \n RESAAS Announces Closing of Oversubscribed Non-Brokered Private Placement for $1,328,000\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 \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Oct. 17, 2023\n \n \n /CNW/ - RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF) (\"\n \n RESAAS\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has closed its oversubscribed non-brokered private placement (the \"\n \n Offering\n \n \"), previously announced on\n \n October 12, 2023\n \n , by issuing 4,150,000 units of the Company (the \"\n \n Units\n \n \") at a price of\n \n $0.32\n \n per Unit for aggregate gross proceeds to the Company of\n \n $1,328,000\n \n .\n \n \n \n \n \n \n \n \n \n The Company intends to use the net proceeds of the Offering for expansion, strengthening of the Company's balance sheet, and general working capital purposes.\n \n \n Each Unit consists of one common share of the Company (each, a \"\n \n Common Share\n \n \") and one half of one Common Share purchase warrant (each, a \"\n \n Warrant\n \n \"). Each whole Warrant entitles the holder thereof to acquire one Common Share (each, a \"\n \n Warrant Share\n \n \") at an exercise price of\n \n $0.60\n \n per Warrant Share until\n \n October 17, 2024\n \n .\n \n \n Certain insiders of the Company (collectively, the \"\n \n Interested Parties\n \n \") subscribed for an aggregate of 1,375,000 Units under the Offering. The Interested Parties are each considered a \"related party\" of RESAAS within the meaning of Multilateral Instrument 61-101 –\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"\n \n MI 61-101\n \n \"), and the sale of such Units to the Interested Parties constitutes a \"related party transaction\" within the meaning of MI 61-101 and Policy 5.9 by the TSX Venture Exchange (the \"\n \n TSX-V\n \n \").\n \n \n Prior to the closing of the Offering, ...