- ICEsoft Technologies Canada (ISFT) has announced plans for a non-brokered private placement for gross proceeds of up to $1.5 million
- The company will issue up to 32,000,000 units at a price of $0.05 per unit
- The offering is being led by Shen Capital Partners Inc. which ICEsoft anticipates will subscribe for a minimum of $1,300,000.00 of the available units
- Upon closing of the private placement, the company has agreed to grant Shen Capital the right to nominate one board member and one board observer
- ICEsoft Technologies Canada Corp. is a software-as-a-service (SaaS) company
- ICEsoft Technologies Canada Corp. (ISFT) is unchanged, trading at C$0.06 per share at 11:45 am ET
ICEsoft Technologies Canada (ISFT) has announced plans for a non-brokered private placement for gross proceeds of up to $1.5 million.
The company will issue up to 32,000,000 units at a price of $0.05 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant would entitle the holder to purchase one additional share at an exercise price of $0.08 within 36 months from the grant of the warrant.
The offering is being led by Shen Capital Partners Inc. which ICEsoft anticipates will subscribe for a minimum of $1,300,000.00 of the available units. Company directors and/or officers will likely also participate in the placement and will purchase units through a combination of cash payments and debt settlement.
Upon closing of the private placement, the company has agreed to grant Shen Capital the right to nominate one member to the Board of Directors and one board observer.
The private placement is anticipated to close on or about Friday, August 27, 2021.
The securities issued pursuant to the Private Placement will be subject to a four-month hold period under applicable securities laws. Closing of the private placement is subject to receipt of all necessary corporate and regulatory approvals, including approval of the Canadian Securities Exchange.
ICEsoft Technologies Canada Corp. is a software-as-a-service (SaaS) company. ICEsoft’s current software is used by some 150,000 developers, 20,000 companies, and some 400 paying customers. ICEsoft’s newest product Voyent Alert! serves the dual purpose of alerting and advising residents during a critical incident as well as providing targeted day-to-day communication services.
ICEsoft Technologies Canada Corp. (ISFT) is unchanged, trading at C$0.06 per share at 11:45 am ET.