VANCOUVER, B.C. (May 27, 2019) – Datable Technology Corp. (TSXV: DAC) (OTCQB: TTMZF) (the “Company” or “DTC”), formerly 3TL Technologies Corp., announces, further to its news release dated April 15, 2019, that it intends to close its non-brokered private placement of approximately 6,847,750 units of the Company (the “Units“) at $0.08 per Unit for gross proceeds of approximately $547,820 (the “Offering“), is set for closing on or about May 30, 2019, subject to final regulatory approval.
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 Share purchase warrant, a “Warrant“). Each Warrant will entitle the holder to purchase one additional Share (a “Warrant Share“) at a price of $0.15per Warrant Share for a period of 24-months from the 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.
In connection with the Offering, Mr. Kim Oishi, a director and Executive Chairman of the Company, plans to complete a “swap” (the “Swap”), whereby he sold 3,122,000 common shares of his personal holdings at a price of 0.08 per share on April 23, 2019 over the facilities of the TSX Venture Exchange (the “Exchange”). Mr. Oishi will use the proceeds from his sale to participate in the Offering and plans to purchase at least 3,600,000 Units.
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 Exchange. Closing of the Offering and the Swap are 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, the Swap and the Debt Settlement 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.
For further information, please contact:
Datable Technology Corp.
Chief Executive Officer
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.