BnSellit Technology Inc. Announces Loan and Proposed Unit Offering
Toronto, Ontario--(Newsfile Corp. - December 15, 2022) - BnSellit Technology Inc. (CSE: BNSL) (the "Corporation") is pleased to announce that it has closed a loan in the amount of $210,000 (the "Loan") with an arms length individual investor. The Loan bears an interest rate of 12%, a 2% structuring fee and is due on or before April 14, 2023. Proceeds of the Loan will be used for working capital purposes.
The Corporation also announces a non-brokered financing at a price of $0.25 per unit (each a "Unit") for total gross proceeds of up to $5,000,000 (the "Offering"). Each Unit will consist of one Class A common share (a "Share") and one half of one warrant (a "Warrant"). Each full Warrant is exercisable at a price of $0.35 into a Share for a period of 18 months. Proceeds of the Offering will be primarily used for the hiring of sales and on boarding representatives and also for working capital purposes.
A finder's fee might be paid on the Offering, subject to the policies of the CSE. The securities issued in connection with the Offering are subject to the applicable statutory four months and one day hold period. The closing of the Offering is subject to receipt of applicable regulatory approvals, including the approval of the CSE.
For further information, please contact:
Antonio Comparelli, Chief Executive Officer
Chris Carmichael, Chief Financial Officer
About BnSellit Technology Inc.
BnSellit Technology Inc. is a technology company that connects guests staying in Hotels and Short-Term/Vacation Rental properties ('Hosts') with items offered for sale or rent by the Hosts at their locations. In addition, Hosts can provide their guests with branded access to local tours, experiences, on property virtual concierge, housekeeping, maintenance requests and additional a-la-cart services. With the BnSellit Platform, Hosts can now offer a greatly improved guest experience while growing their per stay revenue. Hosts simply display their unique BnSellit QR code on-location and/or in-room to engage guests with various offers in more than 14 languages. The BnSellit Platform instantly works on any mobile device, tablet or computer without the need to download and install an app. To access the add-on suite of BnSellit Services, Hosts pay a monthly fee per room at each location. For all other services Hosts retain 100% of all sale transactions, earn 7% on all experience bookings. With the BnSellit Secure back-office portal, Hosts can manage every aspect of their BnSellit Profile including real-time sales reports, inventory, guest management, communications, payment deposits and financial reconciliation.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148222