Breaking Data Provides Financing Update

Breaking Data (TSXV:BKD) has announced it has entered into an agreement with Clarus Securities and Haywood Securities to purchase 2.5 million subscription receipts for gross proceeds of $1 million.
As quoted in the press release:

Upon completion of the Underwritten Tranche, the Company will have issued an aggregate of 12,500,000 Subscription Receipts under the Offering, for aggregate gross proceeds of $5,000,000.
Breaking Data Corp. plans to use the net proceeds of the Offering for working capital requirements and general corporate purposes.
The Underwritten Tranche is scheduled to close on or about April 6^th, 2017, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange (“TSXV”). The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

Click here to read the full press release.

Source: www.breakingdatacorp.com