#AI News: VSBLTY Groupe Technologies (CSE: $VSBY.C)
(OTC: $VSBGF) Announces Exercise and Closing of Over-Allotment Option
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Philadelphia, PA - September 22, 2020 (Investorideas.com Newswire) VSBLTY Groupe Technologies Corp. (the "Company" or "VSBLTY") (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) is pleased to announce that further to the short form prospectus offering (the "Offering") of units (the "Units") which closed on August 28, 2020, the agents have exercised their over-allotment option (the "Over-Allotment Option") to purchase an additional 5,559,045 Units at a price of $0.12 per Unit for gross proceeds of approximately $667,085.
Read this news
featuring VSBY in full at https://www.investorideas.com/CO/VSBY/news/2020/09221Over-Allotment-Option.asp
Including
those sold pursuant to the Over-Allotment Option, a total of 42,619,345 Units
were issued under the Offering for aggregate gross proceeds of approximately
$5,114,321. Each Unit is comprised of one common share of the Company (each a
"Common Share") and one Common Share purchase warrant (each a
"Warrant"). Each Warrant is exercisable to acquire one Common Share
at an exercise price of $0.17 per Common Share until August 28, 2023. The
Warrants are listed for trading on the CSE under the symbol
"VSBY.WT".
The
Offering was conducted on a commercially reasonable "best efforts"
basis by Echelon Wealth Partners Inc., as lead agent, on behalf of a syndicate
of agents including Eight Capital.
The
Company intends to use the proceeds of the Offering for sales & marketing,
research & development and for other general corporate purposes, as more
particularly set out in the final short form prospectus dated August 17, 2020,
available under the Company's profile at www.sedar.com.
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
About VSBLTY (www.vsblty.net)
Headquartered
in Philadelphia, VSBLTY (CSE: VSBY)
(Frankfurt:5VS) (OTC: VSBGF) ("VSBLTY") 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.
FORWARD-LOOKING
INFORMATION
This
news release contains forward-looking statements, including statements
regarding the Offering and the Concurrent Private Placement, 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.
SOURCE
VSBLTY Groupe Technologies Corp.
VSBLTY
Groupe Technologies Corp. (CSE: VSBY) is a featured Tech / AI stock on
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