TMCnet News
VSBLTY Announces Overnight Marketed Financing for Minimum Gross Proceeds of $5 Million/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ PHILADELPHIA, June 9, 2021 /CNW/ - VSBLTY Groupe Technologies Corp. (the "Company" or "VSBLTY") (CSE: VSBY) today announced that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of British Columbia, Alberta, Saskatchewan and Ontario in connection with an overnight marketed offering (the "Offering") of units (the "Units") for minimum gross proceeds of $5 million. Echelon Wealth Partners Inc. (the "Agent") will act as agent for the Offering on a commercially reasonable "best efforts" basis.
Each Unit will consist of one common share (a "Common Share") and one-half of one share purchase warrant (each, a "Warrant"). The size of the Offering and the price of the Units will be determined in the context of the market. The number of units to be distributed under the Offering, the price per Unit (the "Offering Price"), the exercise price of the Warrants and other final terms will be determined by VSBLTY and the Agent upon the pricing of the Offering. There can be no assurance as to whether or when the Offering will be completed, or as to the actual size or terms of the Offering. The Agent will have an option to offer for sale up to an additional 15% of the Units sold pursuant to the Offering on the same terms as the Offering for market stabilization purposes and to cover overallotments, exercisable in whole or in part within 30 days of the date of closing of the Offering. The over-allotment option may be i the form of Units only, Common Shares only, Warrants only, or any combination thereof. Closing of the Offering is subject to a number of conditions, including without limitation, receipt of all regulatory approvals. The Company intends to use the proceeds of the Offering for sales & marketing, research & development and for other general corporate purposes. The Offering is expected to close on or about June 29, 2021, or such other date as the Company and the Agent may agree. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements. On Behalf of the Board of VSBLTY Groupe Technologies Corp. "Jay Hutton" About VSBLTY (www.vsblty.net) Headquartered in Philadelphia, VSBLTY (CSE: VSBY) is a leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning. This news release contains forward-looking statements, including statements regarding the Offering, including the terms of the Offering, the anticipated timing of closing and use of proceeds, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company's public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as required by Canadian securities laws. The Canadian Securities Exchange has not reviewed, approved, or disapproved the content of this news release. SOURCE VSBLTY Groupe Technologies Corp. 
|
