Vancouver, British Columbia: Ynvisible Interactive Inc. (the “Company” or “Ynvisible”) (TSXV: YNV; OTCQB: YNVYF) announces that it has closed a non-brokered private placement of 12,571,429 units of the Company (the “Units”) at $0.35 per Unit for gross proceeds of $4,400,000 (the “Offering”).
Each Unit consists of one common share in the capital of the Company (a “Share”) and one-half of a share purchase warrant (the “Warrant”). Each whole Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.60 per Warrant Share for a period of three years from the closing of the Offering.
If at any time commencing four months from the date the warrants are issued, if for the preceding seven consecutive trading days, the daily volume-weighted average trading price of the issuer's shares is greater than 75 cents, in which case the issuer may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the 30th calendar day after the date of such notice. (“Accelerated Expiry”).
The Company has paid eligible finders a cash commission in the aggregate amount of $108,633 on the Offering within the amount permitted by the policies of the TSX Venture Exchange (the “Exchange”). In addition, 420,673 Units (the “Finder’s Units”) were issued to eligible finders and 729,553 non-transferable finder’s warrants were issued to eligible finders to purchase an aggregate of 729,553 common shares of the Company (the “Finder’s Warrants”). Each Finder’s Unit consists of one Share and one-half of a Warrant. Each Warrant and Finder’s Warrant will entitle the holder to purchase a Warrant Share at a price of $0.60 per Warrant Share for a period of three years from the closing of the Offering, subject to Accelerated Expiry.
All securities issued under the Offering are subject to a statutory hold period ending on October 6, 2019 in accordance with applicable Canadian securities laws. The proceeds of the Offering will be used for general working capital, productization, marketing, and increasing production capacity.
For additional information, please contact the Company at 1-604-788-2810.
Twitter: www.twitter.com/ynvisible @ynvisible
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
Press releases, success stories, and educational content from Ynvisible University.Learn more