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Patriot One Announces $40.0 Million Bought Deal
Patriot One Announces $40.0 Million Bought Deal Canada NewsWire VANCOUVER, Oct. ...
About this update from Xtract One Technologies Inc
[{"type":"text","content":"\n\n\n\nPatriot One Announces $40.0 Million Bought Deal\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\nVANCOUVER, Oct. 29, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, Oct. 29, 2018 /CNW/ - Patriot One Technologies Inc. (TSXV:PAT) (OTCQX:PTOTF) (FRANKFURT:0PL) (\"Patriot One\" or the \"Company\") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. (the \"Underwriters\") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 16,000,000 units (the \"Units\") at a price of $2.50 per Unit (the \"Offering Price\") for aggregate gross proceeds to Patriot One of $40,000,000 (the \"Offering\").\nEach Unit will consist of one common share of the Company (a \"Common Share\") and 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 24 months following the closing of the Offering (the \"Closing\") at an exercise price of $3.25 per Warrant Share. \nThe Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 2,400,000 Units at the Offering Price or up to 2,400,000 Warrants at a price of $0.22 per Warrant, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the Closing.\nThe Units will be offered by way of a short form prospectus to be filed in in all Provinces of Canada except Quebec. The Company intends to use the net proceeds from the Offering for funding its strategic initiatives, accelerating the deployment of its technology and for working capital purposes. The Offering is expected to close on November 20, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the...