/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, July 31, 2018 /CNW/ - Datable Technology
Corporation (TSXV: DAC) (the "Company"), announces
that it will proceed with a non-brokered private placement of up to
11,904,762 units of the Company (the "Units") at
$0.105 per Unit for gross proceeds of
up to approximately $1,250,000 (the
"Offering"). The Company reserves the right to
increase the Offering by 2,380,953 Units for total gross proceeds
of approximately $1,500,000.
Each Unit will consist 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 is
greater than $0.40 for any ten
consecutive trading days after four months and one day after
closing of the Offering.
The Company intends to complete a portion of the Offering
pursuant to Multilateral CSA Notice 45-318 Prospectus Exemption for
Certain Distributions through an Investment Dealer ("CSA
45-318") and the corresponding instruments, orders and rules
implementing CSA 45-318 in the participating jurisdictions
(collectively with CSA 45-318, the "Investment Dealer
Exemption"). In addition to conducting the Offering pursuant to
the Investment Dealer Exemption, the Company will also accept
subscriptions for Units where other prospectus exemptions are
available.
In accordance with the Investment Dealer exemption, the Company
advises that, as at the date hereof, there is no material fact or
material change in respect of the Company that has not been
generally disclosed.
The net proceeds of the Offering will be used for sales and
marketing, product development and for working capital.
The Company may pay a commission to eligible finders in the
amounts permitted by the TSX Venture Exchange (the
"Exchange"). Closing of the Offering is subject to a number
of conditions, including receipt of all necessary corporate and
regulatory approvals, including the Exchange. 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 the policies of Exchange and applicable securities
legislation.
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 Datable Technology Corp.
DTC has developed a proprietary, mobile-based consumer marketing
platform – PLATFORM³ – that is sold to global Consumer
Packaged Goods (CPG) companies and consumer brands.
PLATFORM³ is delivered as a subscription service (Software
as a Service model) and used by CPG companies to engage consumers,
reward purchases and collect valuable consumer data.
PLATFORM³ incorporates Artificial Intelligence and Machine
Learning to monetize the consumer data, including demographics and
purchasing behaviour, by sending consumers targeted offers by email
and text messages. For more information, visit datablecorp.com.
For additional information about the company please visit
www.sedar.com. The TSX Venture Exchange Inc. has in no way passed
upon the merits of the transaction and has neither approved nor
disapproved the contents of this press release. 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. This
news release contains forward-looking information, which involves
known and unknown risks, uncertainties and other factors that may
cause actual events to differ materially from current expectation.
Important factors - including the availability of funds and the
results of financing efforts, - that could cause actual results to
differ materially from the Company's expectations are disclosed in
the Company's documents filed from time to time on SEDAR (see
www.sedar.com). Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date of this press release. The Company disclaims any intention or
obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE Datable Technology Corp.