Business
DataMiners Capital Corp. and Zoomd Ltd. Announce Closing of $8.4 Million Financing
DataMiners Capital Corp. and Zoomd Ltd. Announce Closing of $8.4 Million Financing ...
About this update from Zoomd Technologies Ltd.
[{"type":"text","content":"\n\n\n\nDataMiners Capital Corp. and Zoomd Ltd. Announce Closing of $8.4 Million 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, Aug. 21, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n VANCOUVER, Aug. 21, 2019 /CNW/ - DataMiners Capital Corp. (\"DataMiners\") (TSXV: DMC.H), and Zoomd Ltd. (\"Zoomd\"), are pleased to announce that Zoomd FinanceCo Ltd. (\"Zoomd FinCo\") has completed its previously announced private placement offering (the \"Offering\") of subscription receipts (the \"Subscription Receipts\") in connection with the previously announced reverse takeover of DataMiners by Zoomd pursuant to which the existing shareholders of Zoomd will own a majority of the outstanding shares of DataMiners (the \"Business Combination\"). DataMiners following the completion of the Business Combination is referred to herein as the \"Resulting Issuer\". \nThe brokered portion of the Offering was made through a syndicate of agents, led by Haywood Securities Inc. and included Eight Capital and Paradigm Capital Inc. (collectively, the \"Agents\"). Pursuant to the Offering, Zoomd FinCo issued 8,385,990 Subscription Receipts (including 1,555,990 Subscription Receipts issued pursuant to the non-brokered Offering) at a price of CAD$1.00 per Subscription Receipt (the \"Issue Price\") for aggregate gross proceeds of CAD$8,385,990. Each Subscription Receipt will automatically convert, without payment of any additional consideration and without further action on the part of each subscriber, into one common share of Zoomd FinCo (each, a \"FinCo Share\") upon satisfaction of the Escrow Release Conditions (as defined below). \nThe gross proceeds from the brokered Offering, less certain fees and expenses of the Agents, being CAD$6,680,360 (the \"Escrowed Funds\"), have been delivered to TSX Trust Company (\"TSX Trust\"), as subscription receipt agent. The Escrowed Funds shall be held by TSX Trust until the waiver and/or satisfaction of certain escrow rele...