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Turnium Technology Group, Inc. Announces Closing of Second Tranche Non-Brokered LIFE Offering For Gross Proceeds of C$479,000
Vancouver, Canada--(Newsfile Corp. - August 22, 2023) - Turnium Technology Group, Inc. (TSXV: TT...
About this update from Turnium Technology Group Inc Class A
[{"type":"text","content":"Turnium Technology Group, Inc. Announces Closing of Second Tranche Non-Brokered LIFE Offering For Gross Proceeds of C$479,000Vancouver, Canada--(Newsfile Corp. - August 22, 2023) - Turnium Technology Group, Inc. (TSXV: TTGI), (the \"Company\", or \"Turnium\"), is pleased to announce that, further to its news releases dated July 13, 2023, July 24, 2023, July 31, 2023 and August 3, 2023, the Company has closed a second tranche non-brokered private placement offering (the \"Second Tranche Offering\") of 4,790,000 units of the Company (each, a \"Unit\") at a price of C$0.10 per Unit (the \"Issue Price\") for gross proceeds of C$479,000. The Second Tranche Offering was completed in addition to the Company's first tranche brokered and non-brokered private placement offering of Units at the Issue Price for gross proceeds of C$3,021,000 (the \"First Tranche Offering\"). Pursuant to the First Tranche Offering and the Second Tranche Offering (collectively, the \"LIFE Offering\"), the Company has raised aggregate gross proceeds of C$3,500,000, being the maximum amount listed under the Offering Document (as defined below). The LIFE Offering was completed pursuant to the Listed Issuer Financing Exemption (as defined herein).Each Unit is comprised of one common share of the Company (a \"Common Share\"), and one common share purchase warrant (a \"Warrant\"). Each Warrant issued pursuant to the Second Tranche Offering entitles the holder thereof to purchase one additional Common Share at a price of C$0.14 per share, subject to adjustment in certain events, until August 22, 2026.As consideration for services in connection with the Second Tranche Offering, the Company paid certain arm's length finders a cash commission in the aggregate amount of C$29,330.00 and issued an aggregate of 293,300 non-transferrable finder's warrants of the Company exercisable at any time prior to August 22, 2026, with each such finder's warrant entitling the holder thereof to purchase one Unit, at an exercise price equal to the Issue Price, subject to adjustment in certain events. The LIFE Offering was made pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the \"Listed Issuer Financing Exemption\"). The Company has filed an offering document (the \"Offering Document\") related to the LIFE Offering tha...