Mr. Karl Kottmeier reports
HYDAWAY DIGITAL ANNOUNCES $1,200,000 PRIVATE PLACEMENT FINANCING
Hydaway Digital Corp. has arranged a non-brokered private placement financing of 4.8 million units at a price of 25 cents per unit for gross proceeds of up to $1.2-million.
Each unit will consist of one common share of the company and one share purchase warrant, with each warrant exercisable at 40 cents per share for a period of one year from the date of issue. The company has the right to accelerate the expiry date if, at any time, the shares trade at a price equal to or greater than 75 cents for five consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after the company issues the acceleration notice through a news release, provided that the acceleration notice is issued within 10 business days after the end of the particular five-day period
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The securities issued under the offering will be subject to restrictions on resale for a period of four months from the date of issue. The company may pay finders a fee in cash. The proceeds of the offering will be used to continue to develop the company's GPU rental platform, as well as for general working capital purposes.
Closing is subject to acceptance of the TSX Venture Exchange.
About Hydaway Digital Corp.
The company is a computer rendering and GPU rental service provider located in North Vancouver, B.C. The company is focused on expanding access to scalable compute power and building infrastructure to support artificial intelligence training, inference and high performance workloads.
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