/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Nov. 21, 2017 /CNW/ - 3TL Technologies Corp. (TSXV:TTM) (the "Company"), announces that it has closed a non-brokered private placement of 11,211,834 units of the Company (the "Units") at $0.105 per Unit for gross proceeds of $1,177,242.57 (the "Offering").
Each Unit consists of one common share in the capital of the Company (a "Share") and one-half of a share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.20 per Warrant Share for a period of two years from the closing of the Offering.
The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date a news release is issued announcing the accelerated expiry date in the event that the volume weighted average price of the Shares has been greater than $0.40 for any ten consecutive trading days after four months and one day after closing of the Offering.
The Company has paid eligible finders a cash commission in the aggregate amount of $41,754.49 on the Offering within the amount permitted by the policies of the TSX Venture Exchange (the "Exchange"). In addition, 203,000 Shares were issued to an eligible finder and 553,995 non-transferable finder's warrants were issued to eligible finders to purchase an aggregate of 553,995 units of the Company (the "Finder's Units"), each Finder's Unit consists of one common share in the capital of the Company (a "Share") and one-half of a share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.20 per Warrant Share for a period of two years from the closing of the Offering.
All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The net proceeds of the Offering will be used to fund the Company's sales, marketing, and research and development activities and for general working capital purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such 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, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About 3TL Technologies Corp.
Platform³ is a Software as a Service (SaaS) consumer marketing platform. It enables Consumer Packaged Goods (CPG) companies and consumer brands to engage shoppers through their mobile device and influence their purchasing decisions. Platform³ encompasses proprietary consumer engagement strategies and technology modules including optical character recognition (purchase receipt scanning), digital promotions, purchase data mining, loyalty and rewards. CPG companies and major retail brands use Platform³ to influence and incentivize shoppers to interact with their brand and make purchases in-store and online.
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 3tl Technologies Corp.
For further information: 3 TL Technologies Corp., Robert Craig, Chief Executive Officer, (604) 639-5441, [email protected]