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VANCOUVER, BC, October 31, 2017 – Deploy Technologies Inc. (CSE: DEP, OTC: DPLY) (“Deploy” or the “Company”) is pleased to announce that it has closed the third tranche of its previously announced private placement (the “Offering”), disclosed in the news release of the Company dated August 15, 2017, in connection with its proposed acquisition of Nevada Medical Group LLC (the “RTO”). The Company issued 2,273,000 subscription receipts (the “Subscription Receipts”) at a price of CDN $0.22 per Subscription Receipt (the “Purchase Price”) for aggregate gross proceeds of CDN
$500,060.
In connection with the third tranche, CDN $20,002.40 and 90,920 compensation warrants were issued to an eligible finder as payment of half of the finder’s fees due to such finder for the introduction of subscribers to the Company. For more information on the terms of the finders fees please see the Company’s news release dated August 15, 2017.
All securities issued pursuant to the Offering, including the Underlying Securities and all shares issuable pursuant to the exercise of Compensation Warrants, will be subject to a four month and one day hold from the date of issuance of the Subscription Receipts.
The Company will use the net proceeds of the Offering to complete the RTO and for general working capital purposes of the resulting issuer.
The securities referenced herein 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 registrations or an applicable exemption from the registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For further information please contact:
Darren Tindale, CFO Deploy Technologies Inc.
Email: stonerockltd@gmail.com
Completion of the RTO is subject to a number of conditions, including receipt of appropriate regulatory approvals. The RTO cannot close until all such conditions are satisfied. There can be no assurance that the RTO will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the disclosure document to be prepared in connection with the transaction, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in securities of Deploy Technologies Inc. should be considered highly speculative.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the availability of funds, the results of financing efforts and the parties’ due diligence reviews, and general market conditions – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
We seek safe harbour.
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