Mr. Bryson Goodwin reports
GLOBAL ELSIMATE CAPITAL ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT OF UNITS
Global Elsimate Capital Corp., further to its news release dated May 4, 2020, has closed the first tranche of its non-brokered private placement by issuing an aggregate of three million units at a price of five cents per unit for gross proceeds of $150,000. The private placement is part of a larger offering of up to 10 million units.
Each unit consists of one common share of the company and one-half of one common share purchase warrant.
Each warrant will be exercisable into one common share at an exercise price of 10 cents for a period of three years from the issuance date, subject to acceleration, at the company's discretion, in the event that the common shares trade at a price on the Canadian Securities Exchange of greater than 25 cents per common share for a period of 10 consecutive trading days. All securities issued in connection with the first tranche are subject to a four-month-and-one-day hold period under applicable securities laws.
The company intends to use the proceeds from the first tranche toward marketing and general working capital.
We seek Safe Harbor.
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