- Pioneer Media Holdings (JPEG) has closed the first tranche of its previously-announced non-brokered private placement of up to C$1,000,000
- The company raised gross proceeds of $580,000 through the issuance of 5,800,000 units at $0.10 per unit
- Pioneer plans to use the proceeds raised from the private placement to continue executing its growth strategy
- Pioneer has also announced that it has appointed Olivia Edwards to its Board of Directors
- Pioneer Media Holdings is a web3 gaming and infrastructure company using its proprietary suite of technology, MetaKit, to build and convert games and applications for the blockchain
- Pioneer Media Holdings Inc. (JPEG) opened trading at C$0.08
Pioneer Media Holdings (JPEG) has closed the first tranche of its previously-announced non-brokered private placement of up to C$1,000,000.
The company raised gross proceeds of $580,000 through the issuance of 5,800,000 units at $0.10 per unit.
Each unit is made up of one common share and one-half of a transferable common share purchase warrant.
Each whole warrant entitles the holder to acquire one common share of the company for a period of 24 months following the private placement closing at an exercise price of $0.25.
Pioneer intends to use the proceeds raised from the private placement to continue executing its growth strategy, ongoing technology development and general working capital and corporate purposes.
The company anticipates closing the second tranche of the private placement in early 2023.
Application has been made for the 5,800,000 placing shares to be admitted to trading on Aquis Stock Exchange. Admission is expected to occur at 8:00 am on or around 21 November 2022.
Following admission, the company’s issued share capital will consist of 83,812,582 common shares without par value, with each share carrying the right to one vote.
Pioneer has also announced that it has appointed Olivia Edwards to its Board of Directors with effect from November 14, 2022.
She has experience with the reporting requirements for public companies in both Canada and the UK and has facilitated numerous financial raises in various industries, including web3, gaming and longevity.
Edwards holds a bachelor of arts in Cognitive Systems: Mind, Language & Computation and a master of management from the University of British Columbia.
Pioneer Media Holdings Inc. is a leading web3 gaming and infrastructure company using its proprietary suite of technology, MetaKit, to build and convert games and applications for the blockchain.
Pioneer Media Holdings Inc. (JPEG) opened trading at C$0.08.
