VANCOVER, BRITISH COLUMBIA — (Marketwired) — 09/21/15 — Moseda Technologies Inc. (TSX VENTURE: MSD) (“Moseda” or the “Company”), a technology company focused on developing best in class institutional and home health care solutions and fleet management solutions, is pleased to announce the closing of the oversubscribed non brokered private placement of 8,000,000 Units (the “Units”) of Moseda at a price of $0.15 per Unit for gross proceeds of $1,200,000.00.
Each Unit each consists of one (1) common share (the “Common Share”) and one half (1/2) transferrable share purchase warrant (the “Warrant”). Each warrant entitles the holder thereof to purchase one (1) additional Common Share on or before September 21, 2016 at a price of CDN$0.25 per Common Share.
In accordance with the policies of the TSX Venture Exchange (the “Exchange”), the Company will pay Finders– Fees.
The securities issued are subject to the statutory 4 month hold period as described by the regulatory authorities.
The Company announces an additional non-brokered financing of 1,500,000 Units at a price of $0.20 per Unit for gross proceeds of $300,000.00. It is expected that this financing will close imminently.
Each Unit will consist of one Common Share in the capital of the Company and one half share purchase warrant. Each full Warrant will entitle the holder to purchase one additional common share in the capital of the Company at a price of $0.26 for a period of 12 months from the closing of the offering.
The Company will pay a finder–s fee on the offering within the amount permitted by the policies of the Exchange. Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Proceeds from the Private Placement will be used by the Company for general corporate working capital.
The Company also announces that in accordance with the policies of the Exchange, the Company–s Amended and Restated Stock Option Incentive Plan was approved by its shareholders at its last annual general meeting, and has subsequently been approved by the Exchange.
ON BEHALF OF THE BOARD
Nicholas Murray, CEO & Director
Neither the 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.
Cautionary Statements Regarding Forward-Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”.
We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Moseda Technologies Inc. (the “Company”) does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company–s historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE: Moseda Technologies Inc.
Contacts:
Nicholas Murray
+1 604-637-6098
Kam Thindal
+1 604 488-9875
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