RevoluGROUP Canada has confirmed a non-brokered private placement of up to over 6.6 million units to raise a total of up to C$1 million.
RevoluGROUP Canada (TSX-V:REVO) has confirmed a non-brokered private placement of up to over 6.6 million units at C$0.15 a piece, to raise a total of up to C$1 million.
As quoted in the press release:
Each unit will consist of one common share and one warrant (each, a “Warrant”) exercisable to purchase one additional common share at a price of $0.20 each for a period of one (1) year from the date of issuance. The lead order is for $500,000 from Steve Marshall who will subscribe for 3,333,333 million Units.
The Company intends to utilize the net proceeds from the private placement to expand its newly incorporated U.S subsidiary RevoluGROUP USA Inc., increase marketing of its revenue verticals in 2020 and, for general operating expenses.