12:49:36 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Newnote Financial Corp
Symbol NEU
Shares Issued 19,684,000
Close 2014-11-21 C$ 0.20
Market Cap C$ 3,936,800
Recent Sedar Documents

Newnote Financial arranges $300,000 private placement

2014-11-24 13:07 ET - News Release

Mr. Paul Dickson reports

NEWNOTE FINANCIAL ANNOUNCES NON-BROKERED FINANCING

Newnote Financial Corp. is proposing a non-brokered private placement offering of up to a maximum of two million common shares of the company at a subscription price of 15 cents per unit. Each unit comprises one common share in the capital of the issuer and one common share purchase warrant where each whole warrant entitles the holder to purchase one additional common share at an exercise price of 20 cents per warrant share until 4 p.m. PT on the first business day after the date that is one year from the closing date of the offering of the units subject to accelerated expiry where if at any time after the closing date of the offering of the units the closing sales price of the common shares (or the closing bid, if no sales were reported on a trading day) as quoted on the Canadian Securities Exchange (or such other stock exchange, quotation system or market on which the common shares are listed and where a majority of the trading volume of the common shares occurs) is 30 cents or higher for a period of 10 consecutive trading days, then the company may, within five days of such event, provide notice by way of press release to the holder of the warrants of the early expiry of the warrants, and thereafter the warrants shall expire on that date that is 30 days from the date that such notice is given.

The proceeds of the private placement will be used for the continuation of the company's work on existing products and services, launch of new products and services, potential acquisitions, marketing initiatives, and general working capital. The securities in the private placement will be subject to a holding period of four months from the closing date of the private placement.

Certain insiders, directors and officers may subscribe for a portion of this placement.

In addition, independent director Derrick Strickland has resigned as director; the company thanks him for his contributions to the organization.

We seek Safe Harbor.

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