PLRTF - Amended: Plymouth Rock Announces Closing of First Tranche of Non-Brokered Private Placement Financing
(TheNewswire)
Vancouver, BC - TheNewswire - July 24, 2023 - Plymouth Rock TechnologiesInc. ( CSE:PRT ) ( OTC:PLRTF )(Frankfurt:4XA ) ( WKN#A2N8RH) (“ Plymouth Rock ”,“ PRT ”, or the “ Company ”), a dronemanagement and automation company, todayannounced it has completed a first tranche its previously announcednon-brokered private placement by the issuance of 9,907,000 units (the“Units”) at a price of $0.06 per Unit for aggregate gross proceedsof $594,420.00 (the “Offering”). Each Unit is comprised of one (1)common share and one (1) common share purchase warrant, with eachwhole warrant entitling the holder to purchase one additional commonshare at a price of $0.10 for five (5) years from closing of theOffering.
Finders’ fees in the aggregate of $59,442.00 and990,700 finders’ b-warrants were paid on a portion of the Offering.Each finder’s b-warrant entitles the holder to purchase oneadditional common share at a price of $0.10 for five (5) years fromclosing of the Offering.
The Units, common shares, share purchase warrants,finders’ b-warrants and shares issued upon exercise of the sharepurchase warrants and / or the finders’ b-warrants are subject to afour month hold period, expiring November 25, 2023.
The net proceeds of the private placement will be usedfor working capital and business development.
About Plymouth Rock TechnologiesInc.
Plymouth Rock Technologies (PRT) is an innovative UAVdrone management and operations services company that focuses in threeareas for critical infrastructure and large public and privatefacilities. These three areas include (i) drone management andsurveillance monitoring, (ii) automation and integration for flightplanning, new, innovative sensor payloads, stand-alone power sourceand (iii) drone base station infrastructure and technology forautonomous self-landing, power charging, and take off. www.plyrotech.ca
ON BEHALF OF THE PRT BOARD OFDIRECTORS & PROTEGIMUS PROTECTION
Philip Lancaster, President and CEO
Plymouth Rock Technologies Inc.
info@plyrotech.ca
Forward Looking Statements
Certain information set forth in this news release maycontain forward-looking statements that involve substantial known andunknown risks and uncertainties. All statements other than statementsof historical fact are forward-looking statements, including, withoutlimitation, statements regarding future financial position, businessstrategy, use of proceeds, corporate vision, proposed acquisitions,partnerships, joint-ventures and strategic alliances andco-operations, budgets, cost and plans and objectives of or involvingthe Company. Such forward looking information reflects management’scurrent beliefs and is based on information currently available tomanagement. Often, but not always, forward-looking statements can beidentified by the use of words such as “plans”, “expects”,“is expected”, “budget”, “scheduled”, “estimates”,“forecasts”, “predicts”, “intends”, “targets”,“aims”, “anticipates” or “believes” or variations(including negative variations) of such words and phrases or may beidentified by statements to the effect that certain actions “may”,“could”, “should”, “would”, “might” or “will” betaken, occur or be achieved. A number of known and unknown risks,uncertainties and other factors may cause the actual results orperformance to materially differ from any future results orperformance expressed or implied by the forward-looking information.These forward – looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of the Companyincluding, but not limited to, the impact of general economic conditions, industry conditions and dependenceupon regulatory approvals. Readers are cautioned that the assumptionsused in the preparation of such information, although consideredreasonable at the time of preparation, may prove to be imprecise and,as such, undue reliance should not be placed on forward-lookingstatements. The Company does not assume any obligation to update orrevise its forward-looking statements, whether as a result of newinformation, future events, or otherwise, except as required bysecurities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.