- Martello (MTLO) will undertake a C$2.4 million non-brokered private placement
- Wesley Clover International, owned by Martello Chairman Terence Matthews, is the sole subscriber in the offering
- The company will use the proceeds for general corporate and operational purposes
- Martello is a technology company that provides monitoring solutions to optimize the Microsoft modern workplace
- Martello Technologies (MTLO) opened with a gain of 25 per cent, trading at $0.025 per share
Martello (MTLO) will undertake a C$2.4 million non-brokered private placement.
Wesley Clover International – a corporation controlled by Terence Matthews, Chairman of Martello – is the sole subscriber in the offering, making it a related-party transaction.
The offering will be completed in four equal tranches of $600,000 in March, April, May and June of 2023.
The company will issue shares at a price equal to the greater of $0.05 and the last closing price before the issuance of a news release announcing tranche pricing.
Martello will allocate the proceeds toward general corporate and operational purposes.
The private placement is scheduled to close by June 30, 2023.
Martello is a technology company that provides monitoring solutions to optimize the Microsoft modern workplace, including Microsoft 365 and Microsoft Teams.
Martello Technologies (MTLO) opened with a gain of 25 per cent, trading at $0.025 per share.