PRT:CC - Plymouth Rock Extends Closing of Private Placement Financing
(TheNewswire)
Vancouver, BC - TheNewswire - May 18, 2023 - Plymouth Rock Technologies Inc. ( CSE:PRT ) ( OTC:PLRTF )( Frankfurt:4XA ) ( WKN#A2N8RH) (“ Plymouth Rock ”,“ PRT ”, or the “ Company ”), announcesthat it intends, subject to final Exchange acceptance, to proceed withthe non-brokered private placement financing ofup to 16,666,667 units (the “Units”) of securities at a price of$0.06 CAD per Unit for aggregate gross proceeds of up to $1,000,000.00CAD (the “Offering”) announced on April 3,2023 . The Company has extended theclosing to on or before May 31, 2023.
The terms of each Unit remain as announced and will becomprised of one (1) common share and one (1) fully transferable sharepurchase warrant, with each whole warrant entitling the holder topurchase one additional common share at a price of $0.10 CAD for five(5) years from closing of the Offering. Finders’ fees may bepayable on a portion of the Offering at the discretion of theCompany.
The net proceeds of the private placement will be usedfor commercialization of the Company’stechnologies, working capital and debt settlement.
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 takeoff.
ON BEHALF OF THE BOARD OFDIRECTORS
Philip Lancaster, CEO
+1 (250) 863-3038
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 economicconditions, industry conditions and dependence upon regulatoryapprovals. Readers are cautioned that the assumptions used in thepreparation of such information, although considered reasonable at thetime of preparation, may prove to be imprecise and, as such, unduereliance should not be placed on forward-looking statements. TheCompany does not assume any obligation to update or revise itsforward-looking statements, whether as a result of new information,future events, or otherwise, except as required by securitieslaws.
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