OTTAWA, March 12, 2014 /CNW/ - ProntoForms Corporation (TSXV: PFM), a
leading mobile form business process solution for enterprises and SMBs,
today announced that it has issued a total of 3,333,333 common shares
and 1,666,666 common share purchase warrants for gross proceeds of
$1,000,000 through a non-brokered private placement.
This private placement involved the sale of units (each a "Unit"), each comprised of one common share and one half common share
purchase warrant, for a unit price of $0.30. Each whole warrant
entitles the holder to acquire one common share of ProntoForms at an
additional purchase price of $0.45 per share for eighteen months from
In connection with the placement ProntoForms also paid a total of
$70,000 in cash and issued a total of 233,333 warrants to agents as
commission for their efforts. Each agent warrant entitles the holder to
acquire one Unit at a purchase price of $0.45 for eighteen months from
The financing included participation by insiders of ProntoForms for
Units representing less than 10% of the Units issued in the offering.
The net proceeds of the proposed offering will be used to fund general
The securities issued under this private placement are and will be
subject to restrictions on transfer, including a hold period ending
four months after issuance. The private placement remains subject to
TSX Venture Exchange approval. This news release does not constitute an
offer to sell or a solicitation of an offer to buy any securities.
For more on the ProntoForms mobile form solution, visit http://prontoforms.com.
About ProntoForms Corporation
ProntoForms is a mobile workflow solution used by over 2,500 business
customers to collect, receive and submit data in the field. Available
for smartphones and tablets, the ProntoForms solution incorporates a
mobile device App, a Web management portal to manage teams and data
flow, and provides the ability to export or connect data to the back
office or to popular cloud services. ProntoForms is the Frost &
Sullivan winner of the North American Customer Value Leadership Award
for Mobile Forms.
ProntoForms Corporation, formerly TrueContext Mobile Solutions
Corporation, has a powerful and proprietary patent portfolio, from
which the ProntoForms mobile App and Web reporting portal havebeen
developed. The company trades on the TSXV under the symbol PFM.
ProntoForms is the registered trademark of ProntoForms Inc., a
wholly-owned subsidiary of ProntoForms Corporation.
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.
SOURCE: ProntoForms Corporation
For further information:
Alvaro Pombo, Chief Executive Officer
t: 613.599.8288 ext. 1111