TKSTF - Tinkerine announces $2 million Private Placement
(TheNewswire)
TheNewswire - February 11,2021 - Tinkerine™ Studios Ltd. (TSXV:TTD) (OTC:TKSTF) ("Tinkerine" or the "Company") announces a non-brokered private placement financing of upto 16,000,000 units (a “Unit”) at a price of $0.125 per Unit forgross proceeds of up to Cdn $2,000,000 (the “Offering”). Each Unitwill consist of one common share of the Company and one common sharepurchase warrant ( “Warrant”), with each Warrant entitling theholder to acquire one additional common share of the Company at anexercise price of $0.25 for a period of 36 months fromissuance.
Tinkerine intends to use the net proceeds of theOffering to continue development of its Tinkerine Cloud platform,Tinkerine Skillup platform, marketing of existing and future Tinkerineproducts and services, and advancement of Tinkerine Projects(“Projects”). Projects include larger scale 3D printing systems,ability to purchase Tinkerine hardware and software with digitalcurrencies, and additional 3D printing and additive manufacturingproducts printed with composite and metal materials.
The Company may pay a finder’s fee in conjunctionwith this Offering. All securities issued in connection with theOffering will be subject to a four month hold period in accordancewith applicable securities laws.
Depending on demand and regulatory requirements, aportion of the Offering may be made in accordance with the provisionsof the existing shareholder exemption (the "Existing ShareholderExemption"). In addition to conducting the Offering pursuant tothe Existing Shareholder Exemption, the Offering will also beconducted among close personal friends and business associates ofdirectors and officers of the Company.
The Company has set February 10, 2021 as the recorddate (the "Record Date") for the purpose of determiningshareholders entitled to purchase Units. The aggregate acquisitioncost to a subscriber under the Existing Shareholder Exemption cannotexceed $15,000 (120,000 Units) unless that subscriber has obtainedadvice from a registered investment dealer regarding the suitabilityof the investment.
If subscriptions received for the Offering based on allavailable exemptions exceed the maximum Offering amount of $2,000,000,subscriptions will be accepted at the discretion of the Company suchthat it is possible that a subscription received from a shareholdermay not be accepted by the Company if the Offering is over-subscribed. In accordance with the Existing Shareholder Exemption, the Companyconfirms there is no material fact or material change related to theCompany which has not been generally disclosed.
Existing shareholders of the Company are directed tocontact the Company for further information concerning subscriptionsfor Shares pursuant to the Existing Shareholder Exemption, asfollows:
Chris Lee, Chief Financial Officer
This Offering is subject to TSXV approval.
About Tinkerine
Our mission is to provide a foundational understandingabout Applied Design driven by 3D printing. Our ecosystem of 3Dprinting products and educational resources equips future generationswith the innovative tools and products to stay ahead in a fast-paced,tech-driven world. Tinkerine enables the curious to convert creativeideas into the tangible and the unimaginable. All Tinkerine 3Dprinters and education services are designed and manufactured inCanada.
For further information please contact:
Dean Stuart
T: 403 617 7609
Eugene Suyu
Chief Executive Officer
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Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
This news release contains certain forward-lookingstatements, including, but not limited to, expectations as to theacceptance of products designed and created by the Tinkerine AppliedDesign staff and the Company’s future plans and intentions. Whereverpossible, words such as “may”, “will”, “should”,“could”, “expect”, “plan”, “intend”, “anticipate”,“believe”, “estimate”, “predict” or “potential” or thenegative or other variations of these words, or similar words orphrases, have been used to identify these forward-looking statements.These statements reflect management’s current beliefs and are basedon information currently available to management as at the datehereof.
Forward-looking statements involve significant risk,uncertainties and assumptions. Many factors could cause actualresults, performance or achievements to differ materially from theresults discussed or implied in the forward-looking statements. Thesefactors should be considered carefully and readers should not placeundue reliance on the forward-looking statements. Although theforward-looking statements contained in this news release are basedupon what management believes to be reasonable assumptions, theCompany cannot assure readers that actual results will be consistentwith these forward-looking statements. The Company assumes noobligation to update or revise them to reflect new events orcircumstances, except as required by law.
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