Philadelphia, PA - TheNewswire - December 22, 2023 - VSBLTY Groupe Technologies Corp. (the “Company” or “VSBLTY”) (OTC:VSBGF) (CSE:VSBY) (Frankfurt:5VS), announces that further to its news releases dated November 15, 2023 and December 19, 2023, it has closed the first tranche (the “First Tranche”) of its previously announced private placement (the “Private Placement”) of units of the Company ("Units"), issuing 9,168,838 Units at a price of $0.13 per Unit for a total of approximately $1,191,949, inclusive of certain debt settlements as described below. The Company expects to close on additional funds in a second tranche before the end of the calendar year.

 

Each Unit issued in the First Tranche is comprised of one common share in the capital of the Company (a "Share") and one Share purchase warrant (a "Warrant"), with each Warrant entitling the holder thereof to acquire one additional Share (a "Warrant Share") at a price of $0.16 per Warrant Share for a period of 36 months from the date of issuance.

 

In connection with the closing of the First Tranche, the Company paid finders fees of $640 and issued an aggregate of 4,923 Share purchase warrants (the “Finders Warrants”) to eligible finders. Each Finders Warrant entitles the holder thereof to acquire one additional Share (a “Finders Warrant Share”) at a price of $0.16 per Finders Warrant Share for a period of 36 months from the date of issuance.

 

The Company will use the net proceeds from the Offering for general corporate purposes, including salaries, consulting fees, legal and accounting fees, and investor relations expenses.

 

As part of the First Tranche, the Company also settled an aggregate of $270,000 of outstanding indebtedness in consideration for 2,076,923 Units issued at a price of $0.13 per Unit.

 

All securities issued pursuant to the First Tranche are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

 

On Behalf of the Board of VSBLTY Groupe Technologies Corp.

 

"Jay Hutton” CEO & Director

 

Investor Relations

 

Harbor Access

Jonathan Paterson, 475-477-9401 Jonathan.Paterson@Harbor-Access.com

  

Graham Farrell, +1-416-842-9003 Graham.Farrell@Harbor-Access.com

 

CONTACT: Linda Rosanio, 609-472-0877 lrosanio@vsblty.net

 

About VSBLTY (http://vsblty.net/)

 

Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) (“VSBLTY”) is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning. Its proprietary technology effectively integrates with other digital retail solutions, including QR codes and mobile applications. The firm is also recognized for its leadership role in the growing Store as a Medium movement that enables brands to reach customers when and where buying decisions are being made while producing a new revenue stream for retailers.

 

FORWARD LOOKING INFORMATION STATEMENT

 

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements may include, without limitation, statements relating to the Private Placement and the use of proceeds therefrom. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions. Although the Company believes the expectations expressed in such forward- looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

 

The securities issued pursuant to the Private Placement have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news 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 the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

  

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

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