- Clip Money (CLIP) closed the first tranche of its non-brokered private placement for gross proceeds of US$1,490,983.19
- Under the first tranche, the company issued 4,524,637 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 $0.46
Clip Money (CLIP) has closed the first tranche of its previously announced non-brokered private placement for gross proceeds of US$1,490,983.19.
Under the first tranche, the company issued 4,524,637 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.
The company has agreed to pay a cash fee of C$55,126 and issue 122,502 finder’s warrants to eligible finders.
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 19, 2022.
Closing of the offering is subject to Clip Money obtaining all necessary corporate and regulatory approvals.
Clip Money (CLIP) is a Fintech company providing secure cash deposits to small businesses.
Clip Money Inc. (CLIP) opened trading at $0.46.
