(TheNewswire)
Calgary, Canada - TheNewswire –October 18, 2021 – DeepMarkit Corp. ,(“ DeepMarkit " or the" Company ") ( TSXV:MKT )announces the closing of the second and final tranche of itspreviously announced (September 14, 2021; September 29, 2021) privateplacement.
The second tranche of the non-brokered privateplacement (the "Private Placement") consisted of 243,902 Units (the"Units") at a price of CAD $0.205 per Unit for grossproceeds of $49,999.91 .Each Unit comprises one common share and one common share purchasewarrant (each a "Warrant"). Each Warrant entitles the holderto purchase one additional common share of DeepMarkit at an exerciseprice of CAD $0.75 for a period of two (2) years from the date ofissuance of the Units.
Completion of the Private Placement is subject toregulatory approval, including approval of the TSX Venture ExchangeInc. (the "Exchange”). All shares and warrants issuedpursuant to the second tranche of the Private Placement, and anyshares issued in connection with the exercise of warrants, will besubject to a four month hold period expiring on February 19, 2022, inaccordance with the policies of the Exchange and applicable securitieslaws.
Aggregate finder’s fees of $3,499.99 in cash werepaid to Canaccord Genuity Corp. in connection with the second closingof the Private Placement. The finder’s feesrepresented 7% of the applicable subscription amounts.
The total non-brokered private placement comprised 3,658,537 Units for grossproceeds of $749,999.91 . The net proceeds from the Private Placement will be used to fund continued business operations of the Company andthe Company's continued search for complementary businessopportunities .
Please see the Company's news releases dated September14, 2021 and September 29, 2021, as well as the material change reportfiled by the Company on October 1, 2021, for additional informationabout the Private Placement.
AboutDeepMarkit
DeepMarkit is a technology company focused on creating new tools andtechnologies to aid businesses in sales development and increasingprofitability.
DeepMarkit’s Common Shares are listed on the TSX Venture Exchange,symbol MKT.
For more information, please contact:
President & CEO
Darold H. Parken
Tel: 403-537-0067
Email: dparken@deepmarkit.com
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisnews release.
CAUTIONARYSTATEMENT
Statements in this press release may containforward-looking information, including statements with respect to receiving regulatory approval for the PrivatePlacement, and the anticipated use of proceeds from the PrivatePlacement. Any statements thatare contained in this press release that are not statements ofhistorical fact may be deemed to be forward-looking statements. Thereader is cautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof DeepMarkit. Factors that could cause the actual results to differmaterially from those in forward-looking statements include, but arenot limited to, failure to obtain necessary regulatory approvalrequired for the Private Placement. The reader is cautioned not toplace undue reliance on any forward-looking information.
The forward-looking statements contained in thispress release are made as of the date of this press release andDeepMarkit does not undertake any obligation to update publicly or torevise any of the included forward-looking statements, whether as aresult of new information, future events or otherwise, except asrequired by securities law.
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