Vancouver, British Columbia, March 2, 2020. Datable Technology Corporation (TSXV:DAC) (the “Company”) announces that it intends to complete a non-brokered private placement of up to 10,000,000 units of the Company (the “Units”) at $0.05 per Unit for gross proceeds of approximately $500,000 (the “Offering”).
Each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase 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 $0.08 per Warrant Share for a period of two years from the closing of the Offering.
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 the 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 Corporation
Chief Executive Officer
About Datable Technology Corporation
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.
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.