#AI News: VSBLTY Groupe
Technologies (CSE: $VSBY.C) Announces Brokered Private Placement Led By
Gravitas Securities
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Philadelphia,
PA - May 8, 2019 (Investorideas.com Newswire) VSBLTY Groupe Technologies Corp.
(the "Company" or "VSBLTY") (CSE:
VSBY)
is pleased to announce a brokered private placement of up to 6,000,000 units
("Units") of the Company, at the price of $0.50 per Unit for gross
proceeds of up to $3,000,000 (the "Offering"). Gravitas Securities
Inc. ("Gravitas") will act as lead agent for the Offering on a
commercially reasonable best efforts basis. The Offering is expected to close
on or about May 30, 2019.
Read this in full
at https://www.investorideas.com/CO/VSBY/news/2019/05081PrivatePlacement.asp
Each
Unit will consist of one common share of the Company (each, a
"Share") and one-half of one transferable share purchase warrant
(each a "Warrant"), with each whole Warrant entitling the holder to
purchase one Share at a price of $0.75 per Share for a period of 24 months from
the closing of the Offering. The Warrants will be subject to an acceleration
right if, on any ten (10) consecutive trading days, beginning on the date that
is four (4) months and one (1) day following the closing date of the Offering,
the closing price of the Shares on the Canadian Securities Exchange is greater
than $1.00 per Share. If the Company exercises the Warrant acceleration right,
the new expiry date of the Warrants will be the 30th day following the notice
of such exercise.
Pursuant
to the terms of the Offering, the Agent will be granted the option, exercisable
in whole or in part prior to the closing of the Offering, to increase the size
of the Offering to sell up to an additional 6,000,000 Units at the price of
$0.50 per Unit for additional gross proceeds of up to $3,000,000.
The
Company intends to use the net proceeds of the Offering to pursue strategic
acquisitions and for general working capital.
The
Company will pay a cash commission to the Agent equal to 8.0% of the gross
proceeds of the Offering and broker warrants equal in number to 8.0% of the
Units sold under this Offering, with each broker warrant entitling the Agent to
purchase one Share at the price of $0.50 per Share for a period of 24 months
from the closing date of the Offering.
The
Units will be offered and sold by private placement (i) in Canada to
"accredited investors" within the meaning of National Instrument
45-106 – Prospectus Exemptions and other exempt purchasers in each province of
Canada; and (ii) outside of Canada on a basis which does not require the
qualification or registration of any of the Shares or the Warrants comprising
the Units. The securities issued in the Offering will be subject to applicable
hold periods imposed under applicable securities legislation.
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 Inc.
Jay
Hutton
CEO & Director
CEO & Director
Headquartered
in Philadelphia, VSBLTY (CSE: VSBY) (Frankfurt: 5VS) (OTCBB:VSBGF), is the
world 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.
FORWARD
LOOKING STATEMENT
This
news release contains forward-looking statements, including statements
regarding the attributes of the securities to be offered and sold by the
Company, the proposed use of the net proceeds of the Offering, the closing date
of the Offering and the future price of the Shares on the Canadian Securities
Exchange, 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.
SOURCE
VSBLTY
VSBLTY
Groupe Technologies Corp. (CSE: VSBY) is a featured Tech / AI stock on
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