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Tribe Property Technologies Closes Oversubscribed Brokered Financing of $21 million with Strategic Investment from Round13 Growth Fund
Tribe Property Technologies Closes Oversubscribed Brokered Financing of $21 million with ...
About this update from Tribe Property Technologies Inc
[{"type":"text","content":"\n \n \n \n Tribe Property Technologies Closes Oversubscribed Brokered Financing of $21 million with Strategic Investment from Round13 Growth Fund\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 \n /NOT FOR DISTRIBUTION IN THE U.S. OR TO U.S. NEWSWIRE SERVICES./\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 14, 2022\n \n /CNW/ - Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) (\"Tribe\" or the \"Company\") has closed its previously announced brokered financing pursuant to which the Company raised aggregate gross proceeds of\n \n $21 million\n \n from the sale of units of the Company (each, a \"Unit\") at a price of\n \n $4.00\n \n per Unit (the \"Offering\").  Round13 Growth Fund (\"Round13\"), a highly respected, late-stage growth equity investment fund, part of the Round13 Capital family of funds, was the lead investor for the financing and subscribed for\n \n $10 million\n \n worth of Units. The gross proceeds of this Offering included proceeds raised from the full exercise of the option granted to the Agents (as defined below).\n \n \n \n \n \n \n \n \n \n \"We're delighted that our private placement was oversubscribed and excited by the support we've received from the investment community. This financing is a clear vote of confidence in the milestones Tribe has achieved, and our roadmap for the future,\" said\n \n Joseph Nakhla\n \n , Tribe CEO. \"This financing, led by Round13, enables the Company to continue to execute on our acquisition pipeline, while advancing the deployment of our new products and services to the growing condo and rental market.\"\n \n \n \"The digitization of the property management industry is long overdue, and we expect Tribe will lead a significant transformation across the industry,\" said\n \n Sanjiv Samant\n \n , Managing Partner of Round13 Capital.\n \n \n The net proceeds of the Offering will be used for executing on the Company's acquisition pipeline, working capital and general corporate purposes.\n \n \n The Offering was led by Stifel ...