VANCOVER, BC, AUGUST 31, 2015 /CNW/ – Moseda Technologies Inc. (TSXV:MSD) (“Moseda” or the “Company”), a technology company focused on developing best in class institutional and home health care solutions and fleet management solutions, is pleased to announces that it will proceed with a nonbrokered private placement of up to 6,666,667 units of the Company (the “Units”) at $0.15 per Unit for gross proceeds of up to $1,000,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Company (a “Share”) and one half share purchase warrant (a “Warrant”). Each full Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.25 per Warrant Share for a period of 12 months from the closing of the Offering. The Company will pay a finder’s fee on the Offering within the amount permitted by the policies of the TSX Venture Exchange (the “Exchange”). Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Company anticipates that there may be insider participation in the Offering. The net proceeds from the Units will be used for general corporate working capital.
ON BEHALF OF THE BOARD
“Nicholas Murray” CEO & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements Regarding Forward Looking Information Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”.
We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Moseda Technologies Inc. (the “Company”) does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company’s historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements. SOURCE: Moseda Technologies Inc. For further information: Nicholas Murray at +1 604-637-6098 or nmurray@moseda.com. Kam Thindal at +1 604 488-9875 or kam@htcapitalcorp.com.
