REX Opportunity Corp. Announces Closing of Private Placement Financing
Toronto, Ontario--(Newsfile Corp. - May 20, 2022) - REX Opportunity Corp. ("REX" or the "Corporation") is pleased to announce that it has closed a non-brokered private placement ("Offering") of 1,000,000 Units at a price of $0.15 per Unit for aggregate gross proceeds of $150,000. Each Unit consists of one (1) common share of REX and one (1) common share purchase warrant with each whole warrant exercisable to purchase one (1) common share of REX at an exercise price of $0.20 for a period of three years. All securities issued in connection with the Offering are subject to a hold period of four months and one day. In connection with the Offering, the Corporation paid a cash finder's fee of $7,500.
REX intends to use the proceeds of the Offering to continue developing and implementing its business strategy of creating and acquiring royalty interests in creators' YouTube channels.
REX is developing and implementing a strategy of creating and acquiring royalty interests in creators' YouTube channels. We offer the opportunity to invest directly in content creators and YouTube channels. With REX, investors share in the growth of the content industry.
For further information contact:
Doug Ibbitson, CIO
No securities regulatory authority, stock exchange or regulatory services provider has reviewed or accepts responsibility for the content of this release.
This press release contains "forward-looking statements". Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding use of proceeds and new business strategies.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could affect forward-looking statements include, among others, the following: REX has limited resources, the adequacy of proceeds of financing, the ability of the Corporation to obtain financing, the regulatory environment, the economy and capital markets generally and in particular, the ability of management to implement a business strategy, the importance of key directors, employees, advisors and consultants, and potential for competition.
Any forward-looking statement made by REX in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Corporation will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
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