Mr. Clayton Moore reports
NETCENTS TECHNOLOGY ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT FOR UP TO $2,500,000
NetCents Technology Inc. has arranged a non-brokered private placement for up to $2.5-million.
Pursuant to the offering, if fully subscribed to, the company will issue 4,166,666 units at a price of 60 cents per unit, for gross proceeds of $2.5-million. Each unit consists of one common share of the company and one common share purchase warrant of the company. Each warrant entitles the holder to acquire one common share of the company at an exercise price of 70 cents for a period of 36 months from the closing date of the offering.
The proceeds of the private placement are for the company's general working capital. In connection with the offering, the company may pay finders' fees.
"We're pleased to announce this financing as the crypto winter thaws along with this year's growth and success," stated Clayton Moore, chief executive officer and founder. "Since February we've experienced over 40-per-cent month-over-month growth in total transactions. We have tripled our monthly processing volume and also tripled our total amount of merchants. Our recent release of Q2 financials does not yet reflect this growth, however we expect that will start to be reflected in our Q3 financials."
The proceeds of the private placement are for the company's general working capital.
"Over the next 60 days, the company will continue to focus signing new merchants and partner integrations to continue along our growth trajectory. With all of these pieces in place, we are now and will be in an even stronger position this fall," added Mr. Moore.
About NetCents Technology Inc.
NetCents equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market.
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