VSBLTY files a final prospectus concerning its marketed overnight financing
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PHILADELPHIA CREAM, June 24, 2021 / CNW / – VSBLTY Groupe Technologies Corp. (the âCompanyâ or âVSBLTYâ) (CSE: VSBY) announced today that it has filed a final simplified prospectus (the âProspectusâ) in connection with its offering (the âOfferingâ) of units of the Company (the âUnitsâ). The Prospectus qualifies the distribution of 16,000,000 Units at a price of $ 0.50 per Share for total gross proceeds of $ 8,000,000. The Offer is being conducted on the basis of commercially reasonable “best efforts” in the provinces of British Columbia, Alberta, Saskatchewan and Ontario. Echelon Wealth Partners Inc. (the âAgentâ) acts as agent for the Offering.
Each Unit will consist of one Common Share (a âCommon Shareâ) and one-half share purchase warrant (each entire warrant, a âWarrantâ). Each warrant will allow its holder to purchase one common share at an exercise price of $ 0.65 for 36 months from the closing date (as defined herein). The Company has applied for the listing of the warrants on the Canadian Securities Exchange.
The Agent will have the option to offer for sale up to an additional 15% of the Units sold under the Offering on the same terms as the Offering for the purposes of market stabilization and to hedge over-allotments, which may be exercised under the terms of the Offering. in whole or in part within 30 days of the closing date (the âOver-Allotment Optionâ), for additional gross proceeds of up to $ 1,200,000. The Over-Allotment Option may be in the form of Units only, Common Shares only, Warrants only, or any combination thereof.
In connection with the offering, the agent will receive consideration consisting of (i) a cash commission equal to 7% of the gross proceeds of the offering, including the proceeds from the exercise of the over-allotment option, and ( (ii) the purchase of Warrants Shares (the âAgent’s Warrantsâ) to purchase up to 7% of the number of Units sold under the Offering, including any additional Units issued at the time of purchase. ‘exercise by the agent of the over-allotment option. Each Agent’s warrant will entitle its holder to purchase one Common Share at an exercise price of $ 0.50 for 36 months from the closing date.
Closing of the offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
In addition, the Company announces that it is undertaking, in parallel with the placement, a private placement without intermediary in United States up to 1,200,000 units at the offer price for gross proceeds of up to $ 600,000 (the “Simultaneous private placementThe securities that may be issued under the Concurrent Private Placement will be subject to resale restrictions, including a Canadian hold period of four months. Closing of the Offering is not conditional on the closing of the Concurrent Private Placement. .
The Company intends to use the proceeds of the Offer and the Concurrent Private Placement for sales and marketing, research and development and other general corporate purposes.
The Offer and the Competitive Private Placement should be closed on or about June 29, 2021, or such other date as the Company and the Agent may agree (the âClosing Dateâ).
A copy of the prospectus is available on SEDAR at www.sedar.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy 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 âUS Securities Actâ), or any state securities law, and, by therefore, may not be offered or sold in the United States, or to or on behalf of or for the benefit of persons in United States or “US Persons”, as that term is defined in Regulation S promulgated under the US Securities Act, unless they are registered under the US Securities Act and applicable state securities laws or in under an exemption from these registration requirements.
On behalf of the Board of Directors of VSBLTY Groupe Technologies Corp.
CEO and director
About VSBLTY (www.vsblty.net)
Based at Philadelphia cream, VSBLTY (CSE: VSBY) is a leader in proactive digital signage â¢, which transforms retail and public spaces as well as local media networks with SaaS security and audience measurement software that uses artificial intelligence and machine learning.
This press release contains forward-looking statements, including statements regarding the offer, including the terms of the offer, the expected time of closing and use of the product, and other statements which are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements other than statements of historical fact included in this press release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that the 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 expected, due to 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 documents. of the Society. available under his profile on www.sedar.com. The reader is cautioned not to place undue reliance on forward-looking information. This information, although considered reasonable by management at the time of its preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company does not intend to update any forward-looking statements included, except as required by Canadian securities laws. .
The Canadian Securities Exchange has not reviewed, approved or disapproved of the contents of this press release.
SOURCE VSBLTY Groupe Technologies Corp.