Mr. Corbin Comishin reports
MIDPOINT ANNOUNCES PRIVATE PLACEMENT
Midpoint Holdings Ltd. has proposed a private placement for up to an aggregate of $650,000, pursuant to which the company plans to issue up to an aggregate of up to 2.6 million units of the company, at proposed subscription price of 25 cents per unit, with each unit comprising one common share and one-half of one non-transferable common share purchase warrant in the capital of the company, and with each whole warrant entitling the holder thereof to purchase one additional common share of the company for a period of two years from closing at an exercise price of 50 cents per warrant share.
The shares being issued as part of the units, together with warrant shares issued upon the exercise of any of the warrants, in connection with the completion of the private placement, will be subject to a hold period of four months and a day from the date of issuance in each instance.
The proceeds of the proposed private placement will be used for the company's general corporate and working capital purposes.
About Midpoint Holdings Ltd.
Headquartered in London in United Kingdom, Midpoint is a Financial Conduct Authority-authorized payments institution specializing in cross-border payments and foreign exchange. Small- and medium-sized enterprises (SMEs), overseas professionals, property owners, foreign students, individuals, and anyone involved in international payments use Midpoint's U.S. patent-protected platform for transparent, multiparty, multicurrency services.
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