- SoLVBL Solutions (SOLV) has announced a non-brokered private placement for gross proceeds of up to $750,000
- The company will issue up to 15,000,000 units at a purchase price of $0.05 per unit
- This capital injection will further strengthen the company’s balance sheet as SoLVBL approaches profitability
- SoLVBL Solutions Inc. is a cybersecurity and data authentication company
- SoLVBL Solutions Inc. was up 20.00 per cent, trading at $0.03 at 09:56 ET
SoLVBL Solutions (SOLV) has announced a non-brokered private placement for aggregate gross proceeds of up to $750,000.
The company will issue up to 15,000,000 units at a purchase price of $0.05 per unit. Each unit will consist of one common share and one common share purchase warrant, with one whole warrant entitling the holder to purchase one additional common share of the company at a purchase price of $0.12 per warrant share for a period of twenty-four months from the date of closing.
This capital injection will further strengthen the company’s balance sheet as SoLVBL approaches profitability.
The private placement is expected to include subscriptions, either directly or indirectly, from certain SoLVBL senior management and insiders for an expected aggregate amount of up to 15 per cent.
Furthermore, it is also anticipated that the private placement will include subscriptions from strategic investors throughout North America and the United Kingdom made up of key executives from the film, media & digital entertainment industries.
“The opportunity to add strategic investors from a diverse set of synergistic industries should be seen as not only recognition of the value of SoLVBL’s strategic business positioning within its core market but also a reflection of the investment opportunity that supports our hyper-growth trajectory whilst providing greater balance sheet support as we approach profitability,” explained Kaiser Akbar, President & CEO of SoLVBL.
In line with statutory laws, securities issued in the offering will be subject to a hold period of four months plus one day from the date of issuance.
SoLVBL Solutions Inc. is a cybersecurity and data authentication company.
SoLVBL Solutions Inc. was up 20.00 per cent, trading at $0.03 at 09:56 ET.