21:27:50 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Marble Financial Inc
Symbol MRBL
Shares Issued 93,595,153
Close 2022-11-07 C$ 0.09
Market Cap C$ 8,423,564
Recent Sedar Documents

Marble Financial arranges $2-million private placement

2022-11-08 14:05 ET - News Release

Mr. Mike Marrandino reports

MARBLE FINANCIAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND FIRST TRANCHE

Marble Financial Inc. intends to conduct a non-brokered private placement of up to 28,571,429 units of the company at a price of seven cents per unit for aggregate gross proceeds of up to $2-million. Each Unit will be comprised of one common share of the Company (each a "Common Share") and one-half Common Share purchase warrant, with each full warrant (each a "Warrant") entitling the holder thereof to acquire one Common Share at a price of $0.11 per Common Share for a period of 24 months from the closing date of the Proposed Offering. The Units (including the underlying securities) will be subject to a hold period of four months plus one day following the closing of the Proposed Offering.

The Proposed Offering will be closed in multiple tranches. The Company has received commitments for a first tranche closing (the "First Tranche") of an aggregate of 19,586,439 Units at a price of $0.07 per Unit for an aggregate subscription amount of $1,371,051.

In connection with the Proposed Offering, the Company may pay certain finder's fees, subject to compliance with applicable securities laws and the rules and regulations of the Canadian Stock Exchange ("CSE"). Any net cash proceeds to be received by the Company from the Proposed Offering are intended to be used for general working capital and corporate purposes.

In connection with the First Tranche, an aggregate of $542,167 will be settled through the exchange of currently outstanding convertible debentures plus interest thereon, of which $325,300 is held by insiders. In total, insiders of the Company will subscribe for an aggregate of $760,321 (10,861,728 Units), representing approximately 55% of the total number of Units issued under the First Tranche. The portion of such participation by the insiders constitutes a "related party transaction" within the meaning of the policies of the CSE and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101 on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction insofar as it involves interested parties (within the meaning of MI 61-101) in the Proposed Offering exceeds 25% of the Company's market capitalization calculated in accordance with MI 61-101, and on the basis that no securities of the Company are listed or quoted on certain exchanges or markets as specified in MI 61-101.

About Marble Financial Inc. (CSE: MRBL) (OTC PINK: MRBLF) (FSE: 2V0):

Marble is a leading provider of software-as-a-service (SaaS) solutions that empower businesses to acquire, monitor and rehabilitate consumers using data-driven technology - enabling smarter marketing ROI for partners seeking increased conversion rates. Utilizing Marble's proprietary and proven data-driven technology platforms, Inverite, Accumulate.ai and MyMarble, businesses and consumers are empowered in real-time having access to a 360 financial profile that includes credit and banking data. Marble leverages machine learning and open-banking strategies to put the power of financial data into the hands of businesses and consumers, promoting more robust relationships and higher intent toward future engagements.

We seek Safe Harbor.

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