ProStar Holdings Announces Closing of First Tranche of Private Placement for Gross Proceeds of US$1 Million
The Company will use the proceeds from the First Tranche for sales, marketing, and working capital requirements.
- The Company will use the proceeds from the First Tranche for sales, marketing, and working capital requirements.
- Wayne Moore, a director of the Company (the “Interested Party”), purchased or acquired direction or control over a total of 6,250,000 Units as part of the First Tranche.
- The placement to the Interested Party constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”).
- Wayne Moore, a director of the Company, acquired 6,250,000 Units at the Offering Price for aggregate consideration of US$750,000.