DATAABLE TECHNOLOGY CORPORATION COMPLETES FIRST CLOSING TRANCHE OF NON-BROKER PRIVATE PLACEMENT
/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES FOR DISTRIBUTION IN UNITED STATES/
VANCOUVER, BC, August 19, 2022 /CNW/ – datable technology company (TSXV: DAC) (the “Company“) announces that following its press releases of June 20, 2022 and August 9, 2022it completed the first tranche of its private placement without an intermediary, consisting of 18,500,000 shares of the Company (the “Units“) at $0.02 per unit for gross proceeds of approximately $370,000 (there “Offer“).
Each Unit consisted of one ordinary share in the capital of the Company (a “To share“) and one share warrant (each share warrant, a “To guarantee“). Each warrant entitles its holder to purchase one additional share (a “Warrant action“) at the price of $0.05 per Share with Warrant for a period of two years from the closing of the Offer.
All securities issued under the Offer are subject to a legal hold period expiring on December 20, 2022 in accordance with applicable securities laws. The net proceeds of the Offering will be used for general working capital purposes.
Kim Oishi and Robert Craiginsiders of the Company, have subscribed for 2,000,000 Units ($40,000) and 1,750,000 Units ($35,000) respectively, under the Offer (the “Insider Subscriptions“). Insider Subscriptions constitute “related party transactions” within the meaning of Multilateral Regulation 61-101 – Protection of holders of minority securities during special operations (“MI 61-101The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of NI 61-101 contained in Sections 5.5(a) and 5.7(1)(a), respectively, of NI 61-101 with respect to insider subscriptions.
The Company has paid certain eligible finders a cash commission (the “Intermediation fees“) for a total amount of $16,400 on the investment within the limits of the amount permitted by the policies of the TSX Venture Exchange (the “SwapThe Company expects to close a second tranche in the coming weeks.
In addition, a total of 840,000 non-transferable stock warrants (the “Intermediary mandates“), have been issued to eligible intermediaries. Each intermediary warrant entitles its holder to purchase one additional share at the price of $0.05 per Share for a period of two years from the closing of the Offer.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this press release in United States. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“), or any state securities law, and therefore may not be offered or sold in United Statesor to or for the account or benefit of persons in United States or “US Persons”, as that term is defined in Regulation S promulgated under the US Securities Act, unless registered under the US Securities Act and applicable state securities laws or under an exemption from these registration requirements.
About datable technology company
DTC has developed an exclusive mobile-based consumer marketing platform – PLATFORM³ – which is sold to global consumer packaged goods (CPG) companies and consumer brands. PLATFORM³ is provided as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchases and collect valuable consumer data. PLATFORM³ integrates artificial intelligence and machine learning to monetize consumer data, including demographics and shopping behavior, by sending consumers targeted offers via email and SMS. For more information, visit datatablecorp.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information about the Company, please visit www.sedar.com. The TSX Venture Exchange has in no way passed on the merits of the transaction and has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This press release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Datatable Technology Corp.
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