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Wi2Wi Announces Closing of Private Placement and Director Resignation
Wi2Wi Announces Closing of Private Placement and Director Resignation This news release is n...
About this update from Wi2wi Corp.
[{"type":"text","content":"Wi2Wi Announces Closing of Private Placement and Director ResignationWi2Wi Announces Closing of Private Placement and Director Resignation\nThis news release is not for dissemination in the United States or to U.S. persons. \nSan Jose, CA US, June 06, 2013 /FSC/ - Wi2Wi Inc. (YTY - TSX Venture), (\"Wi2Wi\" or the \"Corporation\") announces that it has closed a non-brokered private placement (the \"Offering\"), which consisted of the issuance of units of the Corporation (each, a \"Unit\") at a price of $0.25 per Unit for aggregate gross proceeds of $250,000.\nEach Unit comprises one common share of the Corporation (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\"), with each Warrant entitling the holder thereof to purchase one common share of the Corporation (a \"Warrant Share\") at a price of $0.45 per Warrant Share for a period of 24 months from closing. The Common Shares and Warrants are subject to a hold period expiring on September 24, 2013. The proceeds of the Offering will be used for general corporate purposes. Wi2Wi also announces the issuance of 65,089 common shares under its share option plan.\nMr. Michael Sonnenreich announced his resignation from the Board of Directors of Wi2Wi Corporation effective May 23, 2013, for personal reasons.  Chairman Dr. Hans Black stated, \"We would like to thank Mr. Sonnenreich for his invaluable contributions to the Board of the Company. His capital markets and public company experience assured the successful transition of the Company's business strategy and was critical in evaluating external opportunities.  We hope that Mr. Sonnenreich continues to experience similar success in his future endeavors.\"\nAbout Wi2Wi Corporation:\nWi2Wi designs, manufactures and markets miniaturized embedded wireless connectivity solutions (incorporating both hardware and software) for premium industrial/medical, smart-home/smart building and government markets worldwide. These products and value added services provide highly integrated, multifunctional wireless sub systems for mobile applications of all forms for mobile devises.\nFor further information, please contact:\nJohn Lokker, CA, CFE\nChief Financial Officer\n(408) - 416-4221\nForward-Looking Statements:  This news release contains certain forward-looking statements, including man...