TBIXF - TrustBIX Inc. Announces Private Placement Closing
Edmonton, Alberta--(Newsfile Corp. - December 31, 2021) - TrustBIX Inc. (TSXV: TBIX) (OTCQB: TBIXF) ("TrustBIX" or the "Company") is pleased to announce receipt of final acceptance from the TSX Venture Exchange of the private placement previously announced on December 8, 2021 and will close the final tranche of the private placement of 1,906,250 Common Shares at a price of $0.16 per Common Share for gross proceeds of $305,000. As previously announced, on December 8, 2021, TrustBIX closed on the first tranche of 2,500,000 Common Shares for gross proceeds of $400,000, resulting in total gross proceeds of $705,000 representing 4,406,250 Common Shares.
The securities issued under the Private Placement are subject to a four-month hold period from the time of closing of the Private Placement.
The proceeds of the Private Placement will be used for corporate development activities and general working capital. There is no minimum Private Placement amount.
About TrustBIX (TSXV: TBIX) (OTCQB: TBIXF)
As an innovative leader, TrustBIX provides agri-food traceability and chain of custody value solutions. The Company's goal is to create a world where we trust more, waste less and reward sustainable behaviour by addressing consumer and agri-food business demands. The proprietary platform, BIX (Business InfoXchange system), is designed to create trust without compromising privacy through innovative, blockchain-derived use of technology and data. By leveraging BIX and its unique use of incentive solutions, TrustBIX delivers independent validation of food provenance and sustainable production practices within the supply chain - Gate to Plate®.
ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in Canada, United States, Mexico and China, such as Auction Master Pro, Market Master, Feedlot Solutions and pork grading probes.
For more information, visit www.trustbix.com, or follow TrustBIX on Twitter @BIXSCdn, LinkedIn www.linkedin.com/company/bixsco-inc-/ and Facebook at www.facebook.com/BIXSco.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: info@trustbix.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108772