19:08:23 EDT Sat 18 Sep 2021
Enter Symbol
or Name

Login ID:
Cloud Nine Web3 Technologies Inc
Symbol CNI
Shares Issued 16,787,047
Close 2021-05-14 C$ 1.08
Recent Sedar Documents

Cloud Nine closes $250,025 second tranche of placement

2021-05-14 21:26 ET - News Release

Mr. Sefton Fincham reports


Further to the news release dated May 12, 2021, Cloud Nine Web3 Technologies Inc. has closed the second tranche of its non-brokered private placement for additional gross proceeds of $250,025. An aggregate of $1,494,882 has been raised under the first and second tranches of the offering.

Under the second tranche, the company issued 182,500 units at $1.37 per unit. Each unit consists of one common share in the capital of the company and one-half of one transferable common share purchase warrant. Each warrant entitles the holder to acquire one share at a price of $1.75 per share for a period of 12 months from the date of closing of the offering. In the event that the shares trade at a price of $2.50 for 10 consecutive trading days, the company may, at its option, accelerate the warrant expiry date by providing notice to the warrantholders by way of a news release that the warrants will expire on the 30th day from the date of the acceleration notice.

The net proceeds of the offering will be used for working capital, software development and general corporate purposes.

All securities to be issued pursuant to the offering will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.