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Wi2Wi Announces Closing of First Tranche of Private Placement Offering
Wi2Wi Announces Closing of First Tranche of Private Placement Offering San Jose, CA US, Feb...
About this update from Wi2wi Corp.
[{"type":"text","content":"Wi2Wi Announces Closing of First Tranche of Private Placement OfferingWi2Wi Announces Closing of First Tranche of Private Placement Offering\n\nSan Jose, CA US, February 27, 2014 /FSC/ - Wi2Wi Inc. (YTY - TSX Venture), (\"Wi2Wi\" or the \"Company\") is pleased to announce that further to its new release on January 16, 2014, the Company has closed the first tranche of its non-brokered private placement offering (the \"Offering\"), issuing 2,175,000 units at a price of $0.20 per unit (the \"Unit\"). The $435,000 is part of the Offering of up to $4,000,000 previously announced on November 7, 2013. Each Unit consists of one common share and one-half common share purchase warrant. Each whole common share warrant (the \"Warrant\") is exercisable at a price of $0.25 for a period of 24 months following the date of its issuance. \n\nThe net proceeds of the Offering will be used for general corporate and working capital purposes. The Company expects to complete the Offering by March 14, 2014. \n\nAbout Wi2Wi\n\nWi2Wi is a leader in industrial-class WiFi, WiFi-Bluetooth and GPS system-in-a-package (SiPs). Wi2Wi focuses on industrial (including Automotive), medical, infrastructure (including smart-home/smart building) and government markets worldwide. Wi2Wi's products and value-added services provide highly integrated, multifunctional wireless sub systems as complete wireless connectivity solutions for the Machine-to-Machine (M2M) and portable device applications globally.  The Wi2Wi product range is designed for long life and under a wide range of temperature variables.\n\nFor further information, please contact:\n\nDr. Reza Ahy\n\nChief Executive Officer\n\n(408) 416-4200\[email protected]\n\nDISCLAIMERS:  Forward-Looking Statements:  This news release contains certain forward-looking statements, including statements relating to the closing of the proposed Offering and use of proceeds thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with delays resulting from or inability to obtain required regulatory approvals, ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions and sto...