DealNet Announces 3rd Closing of Private Placement
TORONTO, ONTARIO--(Marketwired - Jun 4, 2015) - DealNet Capital Corp. ("DealNet" or the "Company") (CSE:DLS) is pleased to announce that it has completed the third tranche of its private placement that was announced on November 25, 2014 (the "Offering").
The Company previously announced that it will issue up to 26,315,790 units (each, a "Unit") at a price of $0.19 per Unit, consisting of one common share (each, a "Common Share") of the Company and one common share purchase warrant (each, a "Warrant") of the Company. Each Warrant will allow the purchaser to acquire one additional common share of the Company at a price of $0.30 for a period of 18 months from the date of issuance.
The closing today resulted in the issuance of 2,915,471 Units, consisting of 2,915,471 Common Shares and 2,915,471 Warrants. As consideration for the Units issued in this closing, the Company received subscriptions of $294,880 in cash and $259,060 from the conversion and full and final settlement of various liabilities owing by the Company. The securities issued today will be subject to a hold period until October 5, 2015.
Together with the previously announced closings, the Company has issued a total of 19,040,725 Units through the Offering, consisting of 19,040,725 Common Shares and 19,040,725 Warrants. The total consideration received in cash and conversion of various liabilities of the Company for all tranches is approximately $3,618,000.
In connection with the Offering, the Company will pay a finder's fee, when applicable, of 8% in cash and 8% in warrants (with a term of 18 months and an exercise price of $0.30) to registered dealers.
About DealNet Capital Corp.
DealNet Capital Corp. focuses on two key vertical markets, Consumer Engagement and Consumer Finance. Through acquisitions, the Company has become a leader in the Consumer Engagement space helping their corporate customers 'speak' to their consumers the way they want to be spoken to using live Voice, Chat, Text, Email and Proximity based engagement solutions. The Company has leveraged its engagement business to offer home improvement financing solutions to consumers, which offer attractive yields and low default rates. The Company continues to seek acquisitions in these key markets.
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The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
