YDX Innovation Corp (TSXV:YDX, OTC:YDRMF, FSE:A2PB03) (“YDX” or the “Company wishes to announce a non-brokered private placement of up to 15,384,616 units at $0.13 per unit for gross proceeds of $2,000,000 (the Financing”).
YDX Innovation Corp (TSXV:YDX, OTC:YDRMF, FSE:A2PB03) (“YDX” or the “Company wishes to announce a non-brokered private placement of up to 15,384,616 units at $0.13 per unit for gross proceeds of $2,000,000 (the Financing”). Each unit will consist of one common share and one transferable share purchase warrant (the “Warrants”) exercisable at $0.20 for a period of three years. The warrants are subject to an acceleration clause in the event the Common Shares trade on the TSX Venture Exchange (the “Exchange”) at a price of $0.50 or more for 30 consecutive trading days at any time after the date of issuance of the Warrants, the Issuer will have the right by providing notice to the warrant holders, to accelerate the expiry date of the Warrants to a date which is 10 business days from the date of notice.
The main exempt dealer for the Financing is the Investment Bank, Amuka Capital, based in Toronto. This is a non exclusive, non brokered Financing.
A portion or all of the Financing may be completed pursuant to Multilateral Notice 45-313 – Prospectus Exemption for Distributions to Investment Dealer (the “Investment Dealer Exemption”) and Prospectus Exemption for Distributions to Existing Security Holders (the “Existing Security Holder Exemption”) and the corresponding blanket orders and rules in the participating jurisdictions. In addition to conducting the Financing pursuant to Investment Dealer Exemption and the Existing Security Holder Exemption, the Financing will also be conducted pursuant to other available prospectus exemptions. The Company has set April 10, 2019 as the record date for the purpose of determining shareholders entitles to participate in the Financing in reliance on the Existing Security Holder Exemption. Qualifying shareholders who wish to participate in the Financing should contact the Company as the contact information set forth below. In the event that aggregate subscriptions for Units under the Financing exceed the maximum number of securities to be distributed, then Units will be sold to qualifying subscribers on a pro rata basis based on the number of Units subscribed for.
Proceeds of the Financing are intended to be used as follows:
Arkave VR New Content, Marketing and Sales 41%
General Working Capital, YDreams and YDX 2019 37%
Marketing and Brand Awareness All Divisions 19%
Game On Festival – Sales and Marketing 3%
There is no material fact or material change about the Company has not been generally disclosed.
All securities issued in connection with the Financing will be subject to a statutory hold period expiring four months and one day after closing of the Financing. Completion of the Financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
About YDX Innovation
YDX Innovation Corp. (TSXV- YDX :: www.ydxinnovation.com ) is a technology company that develops products and services and is an expert in immersive technologies like Augmented and Virtual Reality, eSports events and Interactive Exhibitions.
Currently three divisions are part of the YDX Family:
Arkave VR Arena – www.arkavevr.com – a gaming platform that brings the most immersive Virtual Reality experience to Location Based venues with a highly scalable business model.
Arkave VR has a flagship store in Brazil, two Arenas in the United States, a flagship store being built in Canada and is being sold through a network of distributors that will focus on the thousands of Family Entertainment Centre’s throughout North America, in constant search for innovative attractions.
YDreams Global – www.ydreamsglobal.com – have developed over 1,300 interactive experiences for clients all over the world such as Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes Benz, Coca-Cola, Santander, AmBev, Qualcomm, Unilever, City of Rio and Fiat.
Game On Festival – www.gameonfestival.com – is a new event under development by the Company that combines eSports Tournaments with a large Interactive Exhibition about the videogame industry and its history.
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 communication contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding our current and future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations as well as a list of risk factors that we deem relevant are disclosed in the documents we file from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on our current assumptions, estimates and opinions and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. We do not undertake any obligation to update forward-looking statements should our assumptions, estimates or opinions change, other than as required by law and readers are advised not to place undue reliance on forward-looking statements.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.