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Patriot One Announces an Increase to the Previously Announced Bought Deal Financing
Patriot One Announces an Increase to the Previously Announced Bought Deal Financing ...
About this update from Xtract One Technologies Inc
[{"type":"text","content":"\n\n\n\nPatriot One Announces an Increase to the Previously Announced Bought Deal Financing\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\nCanada NewsWire\nTORONTO, Jan 31, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nTORONTO, Jan 31, 2018 /CNW/ - Patriot One Technologies Inc. (TSXV:PAT) (OTCQB:PTOTF) (FRANKFURT:0PL) (\"Patriot One\" or the \"Company\") is pleased to announce that it has entered into an amending agreement with a syndicate of underwriters led by Canaccord Genuity Corp. (the \"Underwriters\") to increase the size of its previously announced bought deal financing. Pursuant to the revised terms of the offering, the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 11,000,000 units (the \"Units\") at a price of $2.00 per Unit (the \"Offering Price\") for aggregate gross proceeds to Patriot One of $22,000,000 (the \"Offering\").\n\nEach Unit will consist of one common share of the Company (a \"Common Share\") and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"). Each Warrant will be exercisable to acquire one Common Share (a \"Warrant Share\") for a period of 36 months following the closing of the Offering (the \"Closing\") at an exercise price of $2.40 per Warrant Share. \n\nThe Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,650,000 Units at the Offering Price or up to 825,000 Warrants at a price of $0.30 per Warrant, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the Closing.\n\nThe Units will be offered by way of a short form prospectus to be filed in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. The Company intends to use the net proceeds from the Offering for funding its international expansion, accelerating the deployment of its technology and for working capital purposes. The Offering is expect...