Mr. Alan Tam reports
KHOT ANNOUNCES PRIVATE PLACEMENT OF UP TO CAD$500,000
Khot Infrastructure Holdings Ltd. intends to conduct a non-brokered private placement of up to five million subscription receipts at a price of 10 cents per receipt (assuming the completion of a share consolidation on the basis of 10 postconsolidation shares for every one preconsolidation share). The proceeds of the private placement will be held in escrow pending the completion of the transactions, including the share consolidation set out in the company's information circular dated March 9, 2018. Upon completion of the transaction, each receipt will automatically convert into one common share of the company, as constituted following completion of the share consolidation. The company may pay finders' fees.
The private placement is subject to regulatory approval, and securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities law.
The proceeds of the private placement will be used for the development of proprietary indexes and ancillary data products for emerging blockchain and digital currency markets, and for working capital and general corporate purposes.
We seek Safe Harbor.
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