- INEO Tech ( OTCQB:INEOF ) has filed a preliminary short form prospectus with the securities regulatory authorities in all of the provinces of Canada, except Quebec, in connection with a proposed marketed public offering of units of the Co., at a price of $0.12/Unit for aggregate gross proceeds of up to $2M .
- Concurrent with the Offering, the Co. intends to complete a $1M non-brokered private placement of unsecured promissory notes to Pathfinder Asset Management.
- The Co. will issue purchasers of the notes bonus shares equal to 20% of the principal amount of the Notes divided by $0.14.
- The Co. intends to use the net proceeds for the manufacturing and deployment of the INEO Welcoming System to existing and future customers, working capital and general corporate purposes.
- The Offering is expected to close on November 17, 2022.
For further details see:
INEO announces marketed public offering of up to C$2M and and non-brokered note of up to C$1M