- Clip Money (CLIP) has announced a non-brokered private placement for gross proceeds of up to US$3,000,000
- The company will issue up to 9,111,111 units at a price of C$0.45 per unit
- Net proceeds will be used for network expansion and customer acquisition
- The offering is scheduled to close the week of December 19th
- Clip Money (CLIP) is a Fintech company providing secure cash deposits to small businesses
- Clip Money (CLIP) opened trading at $0.50
Clip Money (CLIP) has announced a non-brokered private placement for gross proceeds of up to US$3,000,000.
The company will issue up to 9,111,111 units at a price of C$0.45 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional share for $0.65 for three years.
Warrants are subject to an acceleration clause.
The company has agreed to pay the finder a cash commission and issue finder warrants.
All securities issued will be subject to a statutory four-month hold period of four months.
The company will use the net proceeds for network expansion and customer acquisition, new unit capital expenditures, business operations and technology.
The offering is scheduled to close the week of December 19th 2022.
Closing of the offering is subject to Clip Money obtaining all necessary corporate and regulatory approvals.
Clip Money CEO & Co-Founder Joe Arrage commented on the financing.
“This financing will enable Clip Money to execute on the significant customer opportunities that have developed since our recent U.S. Market launch. Demand from retailers of all sizes has confirmed the need for a convenient, secure, end-to-end self-service deposit network. This demand is driven by an unparalleled value proposition over legacy deposit options, the accelerating pace of bank branch closures and the inefficiencies and ongoing reliability challenges associated with the legacy cash management ecosystem.”
Clip Money (CLIP) is a Fintech company providing secure cash deposits to small businesses.
Clip Money Inc. (CLIP) opened trading at $0.50.