(TheNewswire)
Montréal – TheNewswire - December 20, 2021 – ZeU TechnologiesInc. (CSE:ZEU) (CNSX:ZEU.CN) ispleased to announce that it has completed a first tranche of itspreviously announced non-brokered private placement, pursuant to whichit has issued an aggregate of 1,9750,000 units at a price of $0.40 perUnit for gross proceeds of $790,000.
Each Unit is comprisedof one common share in thecapital of the Corporation (each a“ Share ”) and one Share purchase warrant (each a “ Warrant ”). EachWarrant shall entitle the holder thereof to acquire one additionalShare (each a “ WarrantShare ”) in the capital of the Corporation at aprice of $0.45 for aperiod of 18 months following the issuance of the Units (the“ Warrant ExpiryDate ”).
In the event that the trading price of the Shares onthe Canadian Securities Exchange (the “ CSE ”) reaches $2.50per Share on any single day, the Corporation may, at its option,accelerate the Warrant Expiry Date by delivery of notice to theregistered holders (an “ Acceleration Notice ”) thereof and issuing apress release (a “ WarrantAcceleration Press Release ”), and, in suchcase, the Warrant Expiry Date shall be deemed to be 5:00 p.m.(Montreal time) on the 30 th day following the date of issuance of theWarrant Acceleration Press Release.
The shares acquired by the subscribers are subject to ahold period of four months plus one day from the closing date, endingon April 21, 2022, except as permitted by applicable securitieslegislation and the rules of Canadian Securities Exchange(“ CSE ”).
In connection with this Offering, the Corporation haspaid a cash finder’s fee in an amount of $4,500 and issued 25,000non-transferable finder warrants to acquire such number of commonshares at a price of $0.45, exercisable for a period of 18 months .
Insiders of the Corporation participated in the PrivatePlacement and subscribed to a total of 775,000 Units for proceeds of$310,000. All securities issued in the Private Placement are subjectto a hold period of four months and one day ending on April 21,2022.
Participation of insiders of the Corporation in thePrivate Placement constitutes a related party transaction as definedunder Multilateral Instrument 61-101 ( Protection of Minority Security Holders inSpecial Transactions ). Because the Corporation'sshares trade only on the CSE, the issuance of securities is exemptfrom the formal valuation requirements of Section 5.4 of MI 61-101pursuant to Subsection 5.5(b) of MI 61-101 and exempt from theminority approval requirements of Section 5.6 of MI 61-101. TheCorporation did not file a material change report 21 day before thissecond closing of the Private Placement because the Corporation wishedto complete the Private Placement in a timely manner.
ON BEHALF OF THE BOARD OF DIRECTORS
“FrankDumas”
Frank Dumas
President & CEO
About ZeU
ZeU is a forward-thinking Canadian technology companythat has developed a state-of-the-art blockchain protocol, providingthe foundation for the next-generation of encrypted and distributednetworks. Thanks to its high level of sophistication, ZeU’stechnology maximizes transparency, security and scalability as well asbig data management. ZeU’s strategy is to monetize blockchaintransactions in diverse sectors such as payment, gaming, data, andhealthcare.
Neither the CSE nor its Regulation Services Provider acceptsresponsibility for the adequacy or accuracy of this release.
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