Boardwalktech Closes Additional Tranche of Non-Brokered Private Placement
14 Mai 2019 - 10:30PM
(TSXV:BWLK) – Boardwalktech Software Corp. ("Boardwalktech"), a
leading digital ledger platform and enterprise software solutions
company, is pleased to report that it has closed an additional
tranche of its previously announced non-brokered private placement
of units (each, a "Unit") at a price of C$0.65 per Unit, for gross
proceeds of C$239,451 (the "Additional Tranche"). Boardwalktech has
raised aggregate gross proceeds of $1,303,439 under the private
placement (the "Offering"). Each Unit is comprised of one common
share of the Company and one half one common share purchase warrant
of the Company. Each whole warrant is exercisable at a price of
C$1.10 per share for a period of 24 months following the closing
and will be subject to accelerated expiration by the Company if the
trading price of the common shares of the Company is greater than
C$1.75 for 10 consecutive trading days. The Company has paid
aggregate finder's fees of C$1,625 to compensate finders who
introduced purchasers under the Additional Tranche.
The Company intends to use the proceeds from the
Offering for general corporate purposes and the expansion of their
sales and marketing initiatives. The securities issued under the
Offering will be subject to a four-month hold period in accordance
with applicable securities legislation. The Offering is subject to
TSX Venture Exchange final approval.
This news release does not constitute an offer
to sell, or a solicitation of an offer to buy, any of the
securities in the United States. The securities have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
About Boardwalktech Software
Corp.
Founded in 2004, Boardwalktech has developed a
patented, robust, digital ledger technology that allows for
multi-party collaboration and verification on a trusted, shared,
secure, and private information cloud. Our Boardwalk Enterprise
Blockchain data management platform allows rapid blockchain
application development on many platforms using any user interface,
supporting "smart contract" business logic, integration with legacy
systems and an easy method of connecting all participants (through
Boardwalk virtual machines) enabling the exchange of secure and
validated digital business information.
Boardwalktech is headquartered
in Cupertino, California with offices in India and
operations in North America. For more information on
Boardwalktech, visit our website at www.boardwalktech.com.
Forward-Looking Information and
Statements
This press release contains certain
"forward-looking information" within the meaning of applicable
Canadian securities legislation and may also contain statements
that may constitute "forward-looking statements" within the meaning
of the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking information and
statements are not representative of historical facts or
information or current condition, but instead represent only the
Company’s beliefs regarding future events, plans or objectives,
many of which, by their nature, are inherently uncertain and
outside of the Company’s control. Generally, such forward-looking
information or statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or may contain
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "will continue", "will occur"
or "will be achieved". The forward-looking information contained
herein may include, but is not limited to, information concerning
the Offering (including the completion of any additional tranches
of the Offering) and the use of the proceeds raised under the
Offering.
By identifying such information and statements
in this manner, the Company is alerting the reader that such
information and statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
An investment in securities of the Company is
speculative and subject to several risks including, without
limitation, the risks discussed under the heading "Risk Factors" in
the Company's filing statement dated May 30, 2018. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information and forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended.
In connection with the forward-looking
information and forward-looking statements contained in this press
release, the Company has made certain assumptions. Although the
Company believes that the assumptions and factors used in
preparing, and the expectations contained in, the forward-looking
information and statements are reasonable, undue reliance should
not be placed on such information and statements, and no assurance
or guarantee can be given that such forward-looking information and
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information and statements. The forward-looking information and
forward-looking statements contained in this press release are made
as of the date of this press release, and the Company does not
undertake to update any forward-looking information and/or
forward-looking statements that are contained or referenced herein,
except in accordance with applicable securities laws. All
subsequent written and oral forward-looking information and
statements attributable to the Company or persons acting on its
behalf is expressly qualified in its entirety by this notice.
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.
Contacts:
Charlie Glavin Boardwalktech, Inc. 650-618-6163
charlie.glavin@boardwalktech.com
Boardwalktech Software (TSXV:BWLK)
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