Mr. Cale Moodie reports
Neptune Digital Assets Corp. has entered into a private placement of units of the company with a director and other arm's-length investors for $300,000 at 32.5 cents per unit. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one common share at a price of 40 cents for a period of three years from the closing date. The securities sold in this private placement will be subject to a four-month resale restriction from the date of closing. The private placement is subject to the final approval of the TSX Venture Exchange.
Closing of Alumina draw-down
Neptune is also pleased to announce that, further to its news release dated Feb. 12, 2021, it has closed its previously announced non-brokered private placement with Alumina Partners LLC as part of a draw-down under a draw-down equity facility consisting of 1.5 million units at a price of 17.5 cents per unit for an aggregate gross proceeds of $262,500.
Each unit comprises one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at a price of 29.4 cents for a period of three years from the issue date. The securities will be subject to a four-month and one-day hold period in accordance with applicable securities laws and remains subject to the final approval of the TSX-V.
The company intends to use the proceeds from the private placement and Alumina draw-down for strategic cryptocurrency acquisitions.
About Neptune Digital Assets Corp.
The company has a diversified cryptocurrency portfolio with investments made in top market cap tokens, proof-of-stake cryptocurrencies, decentralized finance and associated blockchain technologies.
We seek Safe Harbor.
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