Business
Correction: SWMBRD Announces Proposed Private Placement of Units for up to $1,240,200
(TheNewswire) VANCOUVER, BC – TheNewswire - October 12, 2023 - SWMBRD ...
About this update from Swmbrd Sports, Inc.
[{"type":"text","content":"Correction: SWMBRD Announces Proposed Private Placement of Units for up to $1,240,200\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 VANCOUVER, BC –\n \n \n TheNewswire -\n \n \n October 12, 2023 -\n \n \n \n SWMBRD\n \n \n \n \n Sports Inc.\n \n \n (CSE:\n \n SWIM\n \n ) (the “\n \n Company\n \n ”),\n \n \n is pleased to\nannounce a non-brokered private placement consisting of up to\n41,340,000 units of the Company (each, a “\n \n Unit\n \n ”) at a price of $0.03 per\nUnit, for gross proceeds of up to $1,240,200 (the “\n \n Offering\n \n ”).\n \n \n Each Unit will consist of one (1) common share in the capital of the\nCompany (each, a “\n \n Common\nShare\n \n ”) and one (1) Common Share purchase warrant (each whole\nwarrant, a “\n \n Warrant\n \n ”).\nEach Warrant will entitle the holder to acquire one (1) additional\nCommon Share at a price of $0.05 per share, for a period of two (2)\nyears from the date the Units are issued.\n \n \n The Company plans to allocate the net proceeds of the Offering for\ngeneral working capital (including items such as product advertising\nand promotional initiatives, insurance, patent maintenance and\nadvancement, legal fees, fulfilment and storage costs, salaries, audit\nfees etc.) and for payment of current outstanding debts.\n \n \n The Company may increase or decrease the size of the Offering in its\nsole discretion. The Offering will be non-brokered, but the Company\nmay, as determined in its sole discretion, pay reasonable customary\nbrokers’ and/or finders’ fees, as applicable, in connection with\nthe completion of the Offering.\n \n \n All securities issued pursuant to the Offering will be subject to\napplicable resale restrictions, including a four month hold from the\ndate of issuance.\n \n \n None of the securities sold in connection with the Offering will be\nregistered under the United States Securities Act of 1933, as amended,\nand no such securities may be offered or sold in the United States\nabsent registration or an applicable exemption from the registration\nrequirements. This news release shall not constitute an offer to sell\nor the solicitation of an offer to buy nor shall there be any sale of\nthe securities in any...