/NOT FOR DISTRIBUTION THROUGH U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./
TORONTO, Aug. 21, 2015 /CNW/ - PUDO Inc. (CSE:PDO) ("PUDO" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement of 1,100,000 common shares in the capital of the Company at a price of $0.63 per common share for total proceeds of $693,000.
The proceeds from the private placement 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. PUDO is North America's first customizable parcel pick-up and drop-off service with a large network of convenient locations that ensures reliable and secure delivery where you want it, when you want it.
Two finder warrants were issued for a total of 90,000 warrants with each warrant exercisable at a price of $0.63 in exchange for one common share. The first 50,000 warrants are exercisable for six months and the remaining 40,000 warrants are exercisable for two years.
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
Email: [email protected]