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Patriot One Technologies Inc. Announces $3 Million Special Warrant Financing
Patriot One Technologies Inc. Announces $3 Million Special Warrant Financing Canad...
About this update from Xtract One Technologies Inc
[{"type":"text","content":"\n\n\n\nPatriot One Technologies Inc. Announces $3 Million Special Warrant 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\nVANCOUVER, June 14, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nVANCOUVER, June 14, 2017 /CNW/ - Patriot One Technologies Inc. (the \"Company\") (TSX VENTURE: PAT) (OTCQB: PTOTF) (FRANKFURT: 0PL) announces that it has entered into an engagement letter with Canaccord Genuity Corp. to act as lead agent and sole bookrunner (the \"Agent\") pursuant to which the Agent has agreed to offer for sale up to 4,300,000 special warrants of the Company (the \"Special Warrants\") on a commercially reasonable basis at a price per Special Warrant of $0.70 for aggregate gross proceeds of up to $3,010,000 (the \"Offering\"). The Agent may invite other registered investment dealers to participate as syndicate members in the Offering. The Company has also granted the Agent an option (the \"Agent's Option\") to sell up to an additional 15% of the Special Warrants sold pursuant to the Offering, which Agent's Option is exercisable by giving notice to the Company not less than 48 hours prior to the closing of the Offering. Closing of the Offering is expected to occur on or about July 5, 2017, subject to receipt of regulatory approvals.\n\nEach Special Warrant not previously exercised will be automatically exercised, without payment of additional consideration, on the earlier of: (i) the Qualification Deadline (as defined below); and (ii) the third business day after the Prospectus Qualification (as defined below). The holders of Special Warrants will receive, upon such automatic exercise, for no additional consideration, one unit of the Company (a \"Unit\") for each Special Warrant held.  Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder to purchase one common share of t...