The company has changed the terms of the financing. It will be a straight share private placement with details below:
$2.0M at $0.80/share (2.5M shares) to close on or before July 31st (revised down from $5M at $1.00/share)
Revised structure as follows:
20,580,000 shares pre money @80c = $16.5M pre money (down from $20M pre money)
2,500,000 shares private placement
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23,080,000 shares @ $0.80 = $18,464,000 post money valuation
The IPO target date has been moved to Q4 2022/Q1 2023 but will move when market conditions seem stable and favourable.
This will require new paperwork from participants. The revised sub agreement available. For those that have already completed the previous subscription agreement and those that wish to participate in this financing please contact Colin Bowkett at the email above.
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