NetCents Technology Announces a Non-Brokered Private Placement for up to $2,500,000
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2019) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") for up to $2,500,000.
Pursuant to the Offering, if fully subscribed to, the Company will issue 4,166,666 units ("Units") at a price of $0.60 per Unit, for gross proceeds of $2,500,000. Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder to acquire one common share of the Company (a "Warrant Share") at an exercise price of $0.70 for a period of 36 months from the closing date of the Offering.
The proceeds of the private placement are for the Company's general working capital. In connection with the Offering, the Company may pay finder's fees.
"We're pleased to announce this financing as the crypto winter thaws along with this years' growth and success," stated Clayton Moore, CEO and Founder. "Since February we've experienced over 40% month over month growth in total transactions. We have tripled our monthly processing volume and also tripled our total amount of merchants. Our recent release of Q2 financials does not yet reflect this growth, however we expect that will start to be reflected in our Q3 financials."
The proceeds of the private placement are for the Company's general working capital.
"Over the next 60-days, the Company will continue to focus signing new merchants and partner integrations to continue along our growth trajectory. With all of these pieces in place, we are now and will be in an even stronger position this Fall," added Clayton Moore.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.
On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 - 1021 West Hastings Street
Vancouver, BC, V6E 0C3
Cautionary Note Regarding Forward Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45992