Resinco Capital Partners Closes Over-Subscribed Private Placement Financing of $2.5 Million
Alex Somjen, president and chief executive officer of Resinco, said: "The oversubscription of our financing demonstrates the high level of demand and support we have received from the investment community.
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VANCOUVER, British Columbia, April 09, 2020 (GLOBE NEWSWIRE) -- Resinco Capital Partners Inc. (CSE:RIN, OTC: RSCZF, FRANKFURT: L6V1) (the “Company” or “Resinco”) is pleased to announce that it has closed its previously announced non-brokered private placement on an oversubscribed basis by issuance of 25,000,000 units (the “Units” and each individually, a “Unit”) for gross proceeds of $2,500,000 (the “Offering”).
Alex Somjen, president and chief executive officer of Resinco, said: "The oversubscription of our financing demonstrates the high level of demand and support we have received from the investment community. We are well positioned to explore new opportunities in health care sector, especially as it relates to detection of and protection against epidemics and pandemics. As is evident from the current crisis, the health care sector is an increasingly important industry that has broad implications across the global economy."
Each Unit is comprised of one common share of the Company (a “Common Share”) at a price of $0.10 per Common Share and one-half of one Common Share purchase warrant at a price of $0.20. Each whole warrant will be exercisable for a period of 24 months from the closing of the Offering.
The Company expanded the originally announced private placement from 20,000,000 units to 25,000,000 units for gross proceeds of $2,500,000 (see the Company’s news release dated April 6th, 2020). The Company intends to use the net proceeds of the Offering for pursuing investment opportunities and general corporate purposes.
All securities issued in connection with the Offering will be subject to a statutory hold period of four-months and one day. Finder’s fees may be paid to eligible finders in accordance with the policies of the CSE.
About Resinco
Resinco Capital Partners is a global investment company which specializes in providing early stage financing to private and public companies. The Company engages in new, early stage investment opportunities in previously underdeveloped assets and obtaining positions in early stage investment opportunities that adequately reflect the risk profile.
RESINCO CAPITAL PARTNERS INC.:
Company Contact:
Tel: 416-319-5744
The CSE does not accept responsibility for the adequacy or accuracy of this release.
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 of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com
