Source: Martello Technologies.
  • Martello Technologies Group (MTLO) has announced the pricing of its non-brokered private placement for gross proceeds of approximately $1,200,000
  • Martello will issue 24,000,000 common shares priced at $0.05 per share
  • The sole subscriber is Wesley Clover International Corporation, a company controlled by Martello’s Chairman, Terence Matthews
  • Martello’s products provide actionable insight into the performance of cloud business applications
  • Martello Technologies Group Inc. (MTLO) is down 20 per cent on the day, trading at C$0.02 per share at 9:30 am ET

Martello Technologies Group (MTLO) has announced the pricing of its non-brokered private placement for gross proceeds of approximately $1,200,000.

Under the offering, Martello will issue 24,000,000 common shares priced at $0.05 per share.

Martello initially announced the offering on February 14, 2023, as part of a larger non-brokered private placement for gross proceeds of $2,400,000, which is expected to be completed on or before June of this year.

The first tranche of the offering is expected to close in March 2023 and the second in April 2023.

The sole subscriber is Wesley Clover International Corporation, a corporation controlled by Terence Matthews, Chairman of Martello. The Company intends to use the proceeds of the Private Placement for general corporate and operational purposes.

About Martello Technologies Group

Martello provides monitoring solutions to optimize the Microsoft Modern Workplace. The company’s products provide actionable insight into the performance of cloud business applications while giving IT teams and service providers control and visibility of their entire IT infrastructure. 

Martello Technologies Group Inc. (MTLO) is down 20 per cent on the day, trading at C$0.02 per share at 9:30 am ET.


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