TORONTO, Dec. 30, 2019 (GLOBE NEWSWIRE) -- Unisync Corp. (UNI.TO) ("Unisync") is pleased to advise that the non-brokered private placement announced on December 19, 2019 has closed. The private placement consisted of 924,703 Common Shares (each a "Share") at a price of $3.30 per Share for total gross proceeds of $3,051,520. The Shares are subject to hold periods expiring on May 1, 2020.
The net proceeds of the Offering will be used for expenditures related to Unisync’s expansion into the United States and for general working capital purposes.
Unisync operates through two business units: Unisync Group Limited (“UGL”) with its North American head office in Mississauga, Ontario and Peerless Garments LP based in Winnipeg, Manitoba (“Peerless”). UGL is a leading customer-focused provider of corporate apparel, serving many leading Canadian and American iconic brands through operations in both Canada and the US. Peerless specializes in the production and distribution of highly technical protective garments, military operational clothing and accessories for a broad spectrum of Federal, Provincial and Municipal government departments and agencies.
The combined operations of UGL and Peerless represent a vertically integrated North American enterprise with exceptional capabilities in garment design, domestic manufacturing and off-shore outsourcing, including state-of-the-art web based B2B ordering, distribution and program management systems.
For more information on our capabilities, products and services please visit our website at www.unisyncgroup.com .
On Behalf of the Board of Directors
Matthew Graham, CEO
Investor relations contact:
Douglas F Good at 778-370-1725