Press Release | Mon July 31, 2017, 12:07 PM EST
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
CALGARY, July 28, 2017 - Trakopolis IoT Corp. ("Trakopolis" or the "Company") (TSX VENTURE: TRAK) is pleased to announce that it has appointed a syndicate, led by Canaccord Genuity Corp. (the "Agent") to sell, by way of a private placement on a "commercially reasonable efforts" basis, units (the "Units") of the Company at a price of $0.90 (the "Issue Price") per Unit for gross proceeds of up to $2,025,000 (the "Offering").
The Offering will consist of up to 2,250,000 Units, where each Unit shall consist of one common share (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share for a period of two years from the closing date of the Offering at an exercise price of $1.20 per Common Share.
The Agent has been granted the option (the "Agent's Option") to sell up to an additional 337,500 Units at the Issue Price pursuant to the Offering, which Agent's Option is exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering.
The net proceeds of the Offering will be used for expansion, business development activities and general working capital and corporate purposes.
The closing of the Offering is expected to occur on or about August 22, 2017, and is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.
This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The securities will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.
Trakopolis is a Software as a Service (SaaS) company with proprietary, cloud-based solutions for real-time tracking, data analysis and management of corporate assets such as equipment, devices, vehicles and workers. The Company's asset management platform works across a variety of networks and devices. Trakopolis has a diversified revenue stream from many verticals including oil and gas, forestry, transportation, construction, rentals, urban services, mining, government and others.
Disclaimer for Forward-Looking Information
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of Trakopolis. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements in this press release include the anticipated timing for closing of the Offering and the anticipated use of proceeds of the Offering. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to complete the Offering; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Trakopolis IoT Corp.
For further information: Brent Moore, President and Chief Executive Officer, Trakopolis IoT Corp., Telephone: (403) 450-7854, Email: firstname.lastname@example.org
Press Release | Mon July 31, 2017, 12:07 PM EST