Mr. Greg Wong reports
RIWI ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT TO RAISE UP TO $1.5 MILLION
Riwi Corp. has arranged a non-brokered private placement for the issuance of up to five million units of the company at a price of 30 cents per unit for aggregate gross proceeds of up to $1.5-million.
Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional share of the company at a price of 50 cents per share for a period of two years from the date of closing. The warrants are subject to an acceleration clause whereby, if at any time prior to the expiry of the warrants, the closing price of the shares on the TSX Venture Exchange equals or exceeds 75 cents for any 10 consecutive trading days, the company may, at its option, accelerate the expiry date of the warrants to the date that is 30 days after the company provides notice of or issues a press release announcing such acceleration. Any warrants remaining unexercised after the accelerated expiry date will automatically expire, and all rights of the holders of such warrants will terminate without compensation.
The company intends to use the proceeds from the offering for general working capital and corporate purposes, including continued product development and commercialization activities.
Completion of the offering is subject to the acceptance of the TSX Venture Exchange and other customary closing conditions. The units, and all securities underlying the units, will be subject to a statutory hold period of four months and one day from their date of issue in accordance with applicable securities laws.
About Riwi Corp.
Riwi is a market research platform and global trend-tracking and prediction technology firm. On a monthly or annual subscription basis, Riwi offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries.
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