VSBY:CC - VSBLTY Announces First Tranche Closing
(TheNewswire)
NOT FOR DISTRIBUTION TO U.S.NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
PHILADELPHIA, PA – TheNewswire - December 19, 2023 — VSBLTY GroupeTechnologies Corp. (the “ Company ” or“ VSBLTY ”) (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt 5VS), is pleased to announce that the Company will close the firsttranche (the “ FirstTranche ”) of its privateplacement (the “ PrivatePlacement ”) of units ofthe Company (" Units "), previouslyannounced on December 21, 2023, issuingapproximately 12,300,000 Units at a repriced subscription price of$0.13 per Unit for a total of approximately $1,600,000 inclusive of certain debt settlements as describedbelow .
Each Unit to be issued in the First Tranche will becomprised of one common share in the capital of the Company (a" Share ") and one Share purchase warrant (a " Warrant "), witheach Warrant entitling the holder thereof to acquire one additional Share (a " WarrantShare ") at a price of $0.16 per WarrantShare for a period of 36 months from the date of issuance.
All securities issued pursuant to the First Tranchewill be subject to a statutory hold period of four months plus a dayfrom the date of issuance in accordance with applicable securitieslegislation.
Further to Company’s news release dated November 15,2023, the Company made the decision to amend the subscription price ofthe Offering from $0.16 per Unit to $0.13 per Unit and amend theexercise price of the Warrants from $0.20 per Share to $0.16 per Shareto reflect the current trading price. Pursuant to the new terms of thePrivate Placement, the Company may issue up to 1 7,386,600 units of the Company (the “ Units ”) at $0.13per Unit for gross proceeds of up to approximately $2,260,258.
As part of the First Tranche, the Company is alsoexpected to settle an aggregate of approximately $700,000 ofoutstanding indebtedness in consideration for approximately 5,385,000Units issued at a price of $0.13 per Unit.
A second tranche of the Private Placement is expectedto be completed in the coming weeks.
“We are appreciative of the continued support of ourshareholders along with new investors that participated in this firsttranche. We will review the feasibility and necessity of closing thefinal tranche of this raise after the holiday break. The Company iswell positioned for 2024 and the opportunity to convert ourpartnerships to revenue generation” stated Jay Hutton CEO andPresident of VSBLTY
On Behalf of the Board of VSBLTYGroupe Technologies Corp.
"Jay Hutton”
CEO & Director
Investor Relations
Harbor Access
Jonathan Paterson, 475-477-9401
Jonathan.Paterson@Harbor-Access.com
Graham Farrell, +1-416-842-9003
Graham.Farrell@Harbor - Access.com
CONTACT: Linda Rosanio, 609-472-0877
About VSBLTY ( http://vsblty.net/ )
Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF)(CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) (“ VSBLTY ”) is theworld leader in Proactive Digital Display™, which transforms retailand public spaces as well as place-based media networks withSaaS-based audience measurement and security software that usesartificial intelligence and machine learning. Its proprietarytechnology effectively integrates with other digital retail solutions,including QR codes and mobile applications. The firm is alsorecognized for its leadership role in the growing Store as a Mediummovement that enables brands to reach customers when and where buyingdecisions are being made while producing a new revenue stream forretailers.
FORWARD LOOKING INFORMATIONSTATEMENT
This release may contain forward-looking statements.Forward-looking statements are statements that are not historicalfacts and are generally, but not always, identified by the words"expects", "plans", "anticipates","believes", "intends", "estimates","projects", "potential" and similar expressions,or that events or conditions "will", "would","may", "could" or "should" occur.Forward-looking statements may include, without limitation, statementsrelating to the Private Placement and the use of proceeds therefrom.The forward-looking statements contained in this press release areexpressly qualified in their entirety by this cautionary statement.All forward-looking statements in this press release are made as ofthe date of this press release. The forward-looking statementscontained herein are also subject generally to assumptions and risksand uncertainties that are described from time to time in theCompany's public securities filings with the Canadian securitiescommissions. Although the Company believes the expectations expressedin such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performanceand actual results may differ materially from those in forward lookingstatements. The Company expressly disclaims any intention orobligation to update or revise any forward-looking statements whetheras a result of new information, future events or otherwise.
The securities issued pursuant to the Private Placementhave not, nor will they be registered under the United StatesSecurities Act of 1933, as amended, and may not be offered or soldwithin the United States or to, or for the account or benefit of, U.S.persons in the absence of U.S. registration or an applicable exemptionfrom the U.S. registration requirements. This news release shall notconstitute an offer to sell or the solicitation of an offer to buy norshall there be any sale of the securities in the United States or inany other jurisdiction in which such offer, solicitation or sale wouldbe unlawful.
The Canadian Securities Exchangedoes not accept responsibility for the adequacy or accuracy of thisrelease. The Canadian Securities Exchange has neither approved nordisapproved the contents of this press release.
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