Mr. Jake Kalpakian reports
37 CAPITAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FINANCING
37 Capital Inc. has proposed to conduct a non-brokered private placement to raise up to $250,000 by the issuance of up to 2.5 million units of the company at a price of 10 cents per unit. Each unit will consist of one common share of the company and one share purchase warrant to acquire one common share of the company at a price of 15 cents per share for a period of three years. If, any time after six months from the issuance date, in the event that the company's shares trade on the Canadian Securities Exchange at 35 cents per share or above for a period of 10 consecutive trading days, a forced exercise provision will come into effect for the warrants issued in connection with this financing.
Finders' fees may be payable in respect to the above proposed financing, and certain insiders may participate in the financing.
The funds raised from the financing will be used toward general working capital.
All securities that may be issued in connection with the above transactions will be subject to a four-month-and-a-day hold period and other applicable restrictions under securities laws.
We seek Safe Harbor.
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