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Patriot One Technologies Inc. Announces $8.5 Million Bought Deal
Patriot One Technologies Inc. Announces $8.5 Million Bought Deal Canada NewsWire ...
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[{"type":"text","content":"\n\n\n\nPatriot One Technologies Inc. Announces $8.5 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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Oct 11, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\n\n\nTORONTO, Oct 11, 2017 /CNW/ - Patriot One Technologies Inc. (TSX VENTURE: PAT) (OTCQB: 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 7,100,000 units (the \"Units\") at a price of $1.20 per Unit (the \"Offering Price\") for aggregate gross proceeds to Patriot One of $8,520,000 (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 $1.70 per Warrant Share.\n\nThe Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,065,000 Units at the Offering Price or up to 532,500 Warrants at a price of $0.06 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 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 expected to close on October 31, 2017 and is subject to certain conditions including, but not limited to, the receipt of all nece...