Mr. Rob Goehring reports
REWARDSTREAM SOLUTIONS INC. CLOSES FINANCING FOR $3,250,000
Rewardstream Solutions Inc. has closed its previously announced non-brokered private placement consisting of 12,499,999 units for gross proceeds $3.25-million at a price of 26 cents per unit.
Each unit will comprise one common share of the issuer and one common share purchase warrant of the issuer. Each warrant will be exercisable into a common share of the company at an exercise price of 35 cents with a one-year expiry. The proceeds of the private placement will be used for general working capital and to pursue acquisitions.
The company paid cash commissions of 7 per cent of gross proceeds received and broker warrants equal in number to 7 per cent of the number of units sold, payable to registrants. Each broker warrant has the same terms as the warrants.
All securities issued in connection with the offering will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities law.
About Rewardstream Solutions Inc.
Rewardstream specializes in the execution of automated referral marketing programs that help brands to acquire, engage and retain their most valuable stakeholders -- customers. By utilizing an innovative blend of marketing insight and proprietary technology, Rewardstream turns an existing customer base into a powerful new sales channel for all of its clients.
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