Mr. Jay Hutton reports
VSBLTY CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
Vsblty Groupe Technologies Corp. has closed the second tranche of its previously announced
private placement of units of the company, issuing 4,464,200 units at a price of 13 cents per unit for a total of approximately
$580,346.
Each unit issued in the second tranche comprises one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to acquire one additional
share at a price of 16 cents per warrant share for a period of 36 months from the date of issuance.
In connection with the closing of the second tranche, the company paid finders' fees of approximately $46,426, an advisory fee of $37,500 and issued an aggregate of 357,136 share purchase warrants to eligible finders. Each finders warrant entitles the holder thereof to acquire one additional share at a price of 16 cents per finders warrant share for a period of 36 months from the date of issuance.
The company will use the net proceeds from the offering for general corporate purposes, including salaries, consulting fees, legal and accounting fees, and investor relations expenses.
All securities issued pursuant to the second tranche are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
In addition, the company is pleased to announce that it has engaged Triomphe Holdings Ltd. (Capital Analytica) to provide investor relations and communications services to the company in exchange for cash compensation of $120,000. The services will include continuing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, corporate video dissemination, and investor relations services. The term of the agreement with Capital Analytica is for a period of six months beginning Feb. 1, 2024, and it is expected that the services will be provided by Jeff French, the president of Capital Analytica. Capital Analytica is a Nanaimo-based company owned and operated by Jeff French who is arm's length to the company.
About Vsblty Groupe Technologies Corp.
Headquartered in Philadelphia, Vsblty is the world leader in proactive digital display, which transforms retail and public spaces as well as place-based media networks with SaaS-based (software as a service) audience measurement and security software that uses artificial intelligence and machine learning. Its proprietary technology effectively integrates with other digital retail solutions, including QR codes and mobile applications. The firm is also recognized for its leadership role in the growing store-as-a-medium movement that enables brands to reach customers when and where buying decisions are being made while producing a new revenue stream for retailers.
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