Clip Money Inc. and 13842053 Canada Corp. Announce Closing of $8.1 Million Subscription Receipt Financing
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2022) - Clip Money Inc. ("Clip Money" or the "Company") and 13842053 Canada Corp. (formerly, 1290451 BC Ltd.) ("138") are pleased to announce the closing of the previously announced private placement of subscription receipts (the "Subscription Receipts") of Clip Money at a price of $1.00 per Subscription Receipt (the "Issue Price") for aggregate gross proceeds of approximately $8.1 million (the "Offering"), which includes a lead order from a strategic investor for $3 million.
- Vancouver, British Columbia--(Newsfile Corp. - May 13, 2022) - Clip Money Inc. ("Clip Money" or the "Company") and 13842053 Canada Corp. (formerly, 1290451 BC Ltd.) ("138") are pleased to announce the closing of the previously announced private placement of subscription receipts (the "Subscription Receipts") of Clip Money at a price of $1.00 per Subscription Receipt (the "Issue Price") for aggregate gross proceeds of approximately $8.1 million (the "Offering"), which includes a lead order from a strategic investor for $3 million.
- The Offering was carried out in accordance with the terms and conditions of an agency agreement dated May 13, 2022 (the "Agency Agreement") among Clip Money, 138 and the Agents.
- The Subscription Receipts were created and issued pursuant to a subscription receipt agreement dated May 13, 2022 (the "Subscription Receipt Agreement") among Clip Money, 138 and TSX Trust Company (the "Escrow Agent"), in its capacity as subscription receipt and escrow agent.
- Upon receipt of the final approval from the TSXV, the Resulting Issuer common shares will begin trading on the TSXV following closing of the Proposed Transaction.