EQ Inc. Completes $1,069,000 Non-Brokered Private Placement
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Toronto, Ontario (FSCwire) - EQ Inc. (TSXV: EQ) (“Corporation” or “EQ Works” or “EQ”), a North American leader in mobile location-based data, is pleased to announce that the Corporation has completed a non-brokered private placement (the “Private Placement”). Pursuant to this Private Placement, the Corporation issued 3,817,857 common shares (the ”Shares”) at a price of $0.28 per Share for aggregate gross proceeds of approximately $1,069,000.
Pursuant to applicable securities laws, the Shares are subject to a hold period for four months and one day, expiring October 8, 2017.
The Corporation intends to use the proceeds raised under the Private Placement to accelerate its sales and marketing efforts and for other general working capital purposes.
The Private Placement remains subject to the final approval of the TSX Venture Exchange (the “TSX-V”).
About EQ Works
EQ Works (www.eqworks.com) provides a smarter way to target customers. Using first party location-based behavior signals, advanced data analytics and proprietary software, EQ creates and targets customized audience segments at scale that boost performance. Proprietary algorithms and data generate attribution models that connect consumer behavior in the physical world to online growth allowing EQ to provide solutions to complex business challenges for brands and agencies.
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Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements, which may include, without limitation, statements with respect to the use of proceeds from the Private Placement. The forward-looking statements are based on management’s current expectations and/or assumptions, and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, the demand for EQ Works’ products and services; a history of net losses; restructuring; intellectual property actions; credit risk from trade credit; changing nature of internet and mobile advertising; failure of real-time advertising exchanges to attract publishers; government regulation of the internet; system failures; competition from new customers and products; rapid technological change; lengthy sales cycles hindering adoption of EQ Works’ solutions; third-party claims related to content in advertising delivered by EQ Works; as well as those factors disclosed in the Company's publicly filed documents. This list is not exhaustive of the factors that may affect any of the Corporation’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Corporation’s forward-looking statements. The Corporation undertakes no obligation to update any forward-looking statements (unless required by law) contained herein should material facts change due to new information, future events or otherwise.
EQ Inc.
1235 Bay Street, Suite 401| Toronto, Ontario |M5R 3K4
p: 416.597.8889 f: 416.597.2345
www.eqworks.com
Contact: Geoffrey Rotstein, President and Chief Executive Officer
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EQ06072017.pdf
Source: EQ Inc. (TSX Venture:EQ)
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