DeepMarkit Announces Second Closing of Private Placement
Calgary, Canada - TheNewswire – October 18, 2021 – DeepMarkit Corp., (“DeepMarkit" or the "Company") (TSXV:MKT) announces the closing of the second and final tranche of its previously announced (September 14, 2021; September 29, 2021) private placement.
The second tranche of the non-brokered private placement (the "Private Placement") consisted of 243,902 Units (the "Units") at a price of CAD $0.205 per Unit for gross proceeds of $49,999.91. Each Unit comprises one common share and one common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of DeepMarkit at an exercise price of CAD $0.75 for a period of two (2) years from the date of issuance of the Units.
Completion of the Private Placement is subject to regulatory approval, including approval of the TSX Venture Exchange Inc. (the "Exchange”). All shares and warrants issued pursuant to the second tranche of the Private Placement, and any shares issued in connection with the exercise of warrants, will be subject to a four month hold period expiring on February 19, 2022, in accordance with the policies of the Exchange and applicable securities laws.
Aggregate finder’s fees of $3,499.99 in cash were paid to Canaccord Genuity Corp. in connection with the second closing of the Private Placement. The finder’s fees represented 7% of the applicable subscription amounts.
The total non-brokered private placement comprised 3,658,537 Units for gross proceeds of $749,999.91. The net proceeds from the Private Placement will be used to fund continued business operations of the Company and the Company's continued search for complementary business opportunities.
Please see the Company's news releases dated September 14, 2021 and September 29, 2021, as well as the material change report filed by the Company on October 1, 2021, for additional information about the Private Placement.
DeepMarkit is a technology company focused on creating new tools and technologies to aid businesses in sales development and increasing profitability.
DeepMarkit’s Common Shares are listed on the TSX Venture Exchange, symbol MKT.
For more information, please contact:
President & CEO
Darold H. Parken
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 news release.
Statements in this press release may contain forward-looking information, including statements with respect to receiving regulatory approval for the Private Placement, and the anticipated use of proceeds from the Private Placement. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of DeepMarkit. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to, failure to obtain necessary regulatory approval required for the Private Placement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this press release are made as of the date of this press release and DeepMarkit does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.
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