(TheNewswire)
Montréal – TheNewswire - June 15, 2021 – ZeU Technologies Inc. (CSE:ZEU) (OTC:ZEUCF) (CNSX:ZEU.CN) is pleased to disclose that the Company is planning to raiseup to $1,500,000 in the form of a non-brokered private placement. The Offering will consist of units at a price of $0.75 perunit.
Each Unit is comprised of one (1) common share (each, a“ Share ”) in the capital of the Corporation and one (1) Sharepurchase warrant (each, a “ Unit Warrant ”), entitling the holder topurchase one (1) Share at an exercise price of $1.25 until the dayfollowing the second anniversary of the issuance of the units (the“ Warrant ExpiryDate ”).
In the event that, during the period of 4 monthsfollowing the closing date of the Offering, the trading price of theShares on the Canadian Securities Exchange (the “ CSE ”) reaches $1.50per 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 30th day following the later of (i) the date onwhich the Acceleration Notice is sent to warrant holders, and (ii) thedate of issuance of the Warrant Acceleration Press Release.
The Corporation will use the proceeds of the Offeringto further advance its different blockchain development initiativesand for G&A expenses. The Corporation might pay a finder’s feeon parts or all of the private placement Offering. All securities tobe issued pursuant to this Offering and part of the Share for Debtssettlement will be subject to the applicable statutory hold period of4 months following the issuance of the securities. The Offering issubject to the approval of the CSE.
The maximum proceeds of the private placement Offeringare $1,500,000, there is no minimum, and the Offering might be closedin tranches. The final closing will occur on or before September 15, 2021 . The Company might also cancel the Offering at any pointas its commercial needs and the global situation evolves.
Issuance of Stock Options
The Company has also issued a total of 350,000 stock options with an execution price of $0.90 to management,directors, and various consultants. These options are vested andwill expire on June 16,2026 .
Multilateral Instrument 61-101
Given the proposed participation of the insiderholders, the proposed financing constitutes a “related partytransaction” within the meaning of Multilateral Instrument 61-101– Protection of Minority Security Holders in Special Transactions(“MI 61-101”).
ZeU is relying on an exemption to both the formalvaluation and the minority shareholder approval requirements of MI61-101, as neither the fair market value of the Units to bedistributed nor the fair market value of the consideration to bereceived by ZeU from the insider holders in connection with the proposed financing exceeds 25% of ZeU’s sharecapitalization.
ON BEHALF OF THE BOARD OF DIRECTORS
"FrankDumas"
Frank Dumas
President & CEO
About ZeU
ZeU is a forward-thinking Canadian technologyCorporation that has developed a state-of-the-art blockchain protocol,providing the foundation for the next generation of crypto networks.Thanks to its high level of sophistication, ZeU’s technologymaximizes transparency, security and scalability as well as big datamanagement. ZeU’s strategy is to monetize blockchain transactions indiverse sectors such as payment, gaming, data and healthcare. https://www.zeuniverse.com
The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for theadequacy or the accuracy of the contents of this release.
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