Vancouver, British Columbia (FSCwire) - Orca Touchscreen Technologies Ltd. (the “Company”) (CSE:OAA), is pleased to announce that, further to its news release dated July 27, 2015 announcing closing of a private placement of 1,557,716 units for gross proceeds of $467,314.79, the Company has today closed the second tranche of that non-brokered private placement in the amount of 897,594 units at a price of $0.30 per unit for gross proceeds of $269,278.11 to be used for general working capital purposes.
Each unit is comprised of 1 common share and one-half of one warrant. Each whole warrant is exercisable to purchase 1 additional common share of the Company at an exercise price of $0.40 per share for a period of 5 years from the issuance date of such warrants.
The common shares and the warrants comprising the units are subject to a hold period of 6 months and 1 day from their date of issuance.
In connection with the private placement, the Company will pay compensation to finders equal to 20% of the proceeds for the Units purchased by subscribers introduced by such finders.
About Orca Touchscreen
Orca Touchscreen’s business is the design, production, sale, distribution, service and refurbishment of touchscreen devices, including smartphones and tablets. The Company is working with partners in developing countries to establish semi knock down (SKD) assembly factories to produce smartphones, tablets and other touchscreen devices for sale in that country’s growing market.
As well, Orca Touchscreen has an exclusive worldwide license to use and sublicense all the technology and patents owned by Sollensys Corp., incorporated in Korea, for the purposes of making, selling and distributing touchscreen products and services.
The common shares of Orca Touchscreen are listed for trading on 3 markets: the Canadian Securities Exchange under the trading symbol “OAA”, the Frankfurt Stock Exchange under the trading symbol “6OT”, and on the OTCQB marketplace (part of OTC Markets Group) under the trading symbol “ORTFF”.
To learn more about Orca Touchscreen, visit www.orcatouchscreen.com, and you can view its profile and documents at www.sedar.com and www.thecse.com.
For further information, please contact:
Jong Myung (James) Choi
Chief Financial Officer and a Director
Orca Touchscreen Technologies Ltd.
Telephone: 604.880.0499
Email: cfo@orcatouchtech.com
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/orcatouch07282015.pdfSource: Orca Touchscreen Technologies Ltd. (CSE:OAA) http://www.orcatouchtech.com/
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