Mr. Francisco Carasquero reports
FINTECHWERX ANNOUNCES PROPOSED NON-BROKERED PRIVATE PLACEMENT
Fintechwerx International Software Services Inc. intends to undertake a non-brokered private placement financing of up to $250,000, consisting of the issuance of 223,214 units at a price of $1.12 per unit. Each unit is composed of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one share at a price of $1.39 per warrant share for a period of two years following closing. Proceeds of the offering will be used for general working capital, for research and development, and to support sales and marketing efforts of the Fintechwerx platform.
All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after closing of the offering. The offering may include finder's fee commissions payable in cash and/or securities, and is subject to approval of the Canadian Securities Exchange. Insiders may participate in the offering. Any participation by insiders in the offering will constitute a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
About Fintechwerx International Software Services Inc.
Fintechwerx is a financial technology company providing on-boarding, payments, identity verification, fraud mitigation and data services to merchants, independent sales organizations and payment service providers, offering an alternative to the need for a patchwork of providers.
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