/NOT FOR DISTRIBUTION THROUGH U.S. NEWS WIRE SERVICES OR DISSEMINATION
IN THE U.S./
TORONTO, Aug. 10, 2015 /CNW/ - PUDO Inc. (CSE:PDO) ("PUDO" or the
"Company") is pleased to announce a non-brokered private placement (the
"Offering") of up to 1,100,000 common shares in the capital of the
Company (the "Common Shares") at a price of CDN$0.63 per Common Share
for aggregate gross proceeds of up to CDN$693,000. The Company
anticipates that closing will occur on or about August 17, 2015.
The proceeds from the Offering will be used to pursue the expansion of
the location network in Canada and the U.S., pursue strategic partners
and retailers, and for general working capital.
The Common Shares issued pursuant to the Offering will be subject to a
four-month hold period. The Offering is subject to certain conditions
including, but not limited to, the receipt of all necessary approvals
including the approval of the Canadian Securities Exchange ("CSE").
Qualified finders will be eligible to receive finder warrants to acquire
that number of Common Shares as is equal to up to nine per cent of the
number of Common Shares issuable under the Offering (exercisable for a
period of up to 24 months at a purchase price of CDN$0.63 per Common
Share). Additional information on PUDO can be found at www.sedar.com or www.pudoinc.com.
About PUDO Inc.
Headquartered in Canada, PUDO is North America's first customizable
parcel pick-up and drop-off service, ensuring reliable and secure
delivery where you want it, when you want it. Using easily-accessible
community locations such as convenience stores, gas stations and
grocery stores with extended hours, PUDO members, participating
ecommerce retail customers and any business sector with a home-based
workforce, can now pick-up their packages anytime, including evenings
and weekends. PUDO eliminates the frustration of missed deliveries and
gives control over parcel pick-up and delivery back to its
members. With user-friendly technology, free membership and thousands
of locations across Canada and the U.S., PUDO is changing the parcel
delivery model in North America. For more information, please visit: www.pudoinc.com.
This press release contains forward-looking statements. More
particularly, this press release contains statements concerning the
listing of the common shares of the resulting issuer on the CSE. In
addition, the use of any of the words "anticipate", "believe",
"expect", "plan", "intend", "can", "will", "should", and similar
expressions are intended to identify forward-looking statements. The
forward-looking statements contained herein are based on certain key
expectations and assumptions made by the Company, including but not
limited to expectations and assumptions concerning the receipt of
required regulatory approval. Although the Company believes that the
expectations and assumptions on which the forward-looking statements
are based are reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no assurance
that they will prove to be correct.
The forward-looking statements contained in this press release are made
as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.
SOURCE Pudo Inc.
For further information:
Phone: 647-725-2520, Ext. 222