Subscribe Technologies Closes Non-Brokered Private Placement
Vancouver, British Columbia (FSCwire) - Subscribe Technologies Inc. (the “Company”) (CSE: SAAS) (Frankfurt: 6GQ) (OTCPK: SRBBF) is pleased to announce that the Company has closed a non-brokered private placement of up to 7,500,000 units at price of $0.08 per unit, for gross proceeds of $600,000. Each unit will consist of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.14 per common share for a period of three years from the date of closing.
The Company paid a finder’s fee of 8% cash to Leede Jones Gable Inc. All Shares issued pursuant to the private placement are subject to a four month hold period in Canada. The net proceeds of the private placement will be used for general working capital.
With this financing the Company welcomes a new, predominantly US based investment network as shareholders, who collectively possess significant experience working with and investing in public micro cap, software as a service, and technology focused companies.
President and CEO Paul Dickson states, "This strategic financing welcomes a group who recognize the potential to scale a world class SaaS based technology company with the powerful leverage of a public vehicle. With their collaboration and support, we look forward to taking our Subscribe suite of small business app solutions to the next level.”
About Subscribe Technologies Inc.
Subscribe Technologies is a global software and technology development agency which particularly develops, partners with, acquires, and invests in cloud based distributed ledger compatible software as a service (SaaS) solutions for small and medium sized enterprises (SMEs).
To learn more about Subscribe Technologies, please visit: www.subscribetech.com.
On Behalf of the Board,
President & CEO
T: (778) 775-7297
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Subscribe Technologies Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the content of this press release.
Source: Subscribe Technologies Inc. (CSE:SAAS, OTC Pink:SRBBF, FWB:6GQ)
To follow Subscribe Technologies Inc. on your favorite social media platform or financial websites, please click on the icons below.
Maximum News Dissemination by FSCwire. https://www.fscwire.com
Copyright © 2018 FSCwire