Siyata Mobile Completes $5.1M Brokered Financing

Siyata Mobile (TSX VENTURE: SIM) (OTC PINK: SIMFF) announce the closing of its brokered private placement for gross proceeds of CAD$5.134 million, through a syndicate of investment dealers led by Paradigm Capital Inc.

As quoted in the press release:

As a result of the financing, the Company has CAD$9M in available working capital, positioning the Company to be well-capitalized as it expands its sales and reach into North America.

The Company issued 12,835,000 units pursuant to the Offering. Each unit is compromised of one common share and one common share purchase warrant. Each warrant is exercisable to acquire one common share of the Company at an exercise price of CAD$0.50 per share until March 16, 2019, subject to customary anti-dilution adjustments. The Company has the option to accelerate the expiry of the warrants, upon providing notice to warrant holders and issuing a press release, if its common shares close at CAD$0.70 or greater on the TSXV for 10 consecutive trading days. The securities issued in connection with the Offering are subject to a customary four month hold period expiring July 17, 2017.

Click here for the full press release. 

Get the Latest Mobile Web Investing Stock Information

Get the latest information about companies associated with Mobile Web Investing delivered directly to your inbox.

Mobile Web
Other Companies

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Tech Forecast and Promising Tech Stocks To Buy in 2017

Learn about breakthrough technology about to impact lives around the globe. We cover the entire industry in our FREE investor’s report.   Gain Access

Leave a Reply