Clip Money Inc. Announces Extension of Closing of Non-Brokered Private Placement of Convertible Note Units
14 7월 2023 - 6:00AM
Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) (“
Clip
Money” or the
“Company”), a company that
operates a multi-bank self-service deposit system for businesses,
is pleased to announce that it has extended the final closing date
of its previously announced non-brokered private placement (the
“
Private Placement”) of note units of the Company
(each a “
Note Unit”). Each Note
Unit consists of one 12% unsecured convertible note with a
principal amount of $1,000 (each a “
Note”) and
1,000 common share purchase warrants of the Company (each, a
“
Warrant”). To accommodate ongoing investor
demand, the final closing date of the private placement has been
extended to August 14, 2023.
To date, the Company has issued approximately
3903 Note Units across two tranches for aggregate gross proceeds of
approximately CAD$3,903,000.00. The closing of the first tranche -
announced on May 4, 2023 - resulted in gross proceeds of
approximately CAD$483,000 while the closing the second tranche –
announced on June 13, 2023 - resulted in gross proceeds of
approximately CAD$3,420,000. The Company plans to use the net
proceeds from the Private Placement for network expansion and
customer acquisition, new unit capital expenditures, business
operations and technology and for general corporate purposes.
About Clip Money Inc.
Clip Money operates a multi-bank self-service
deposit system for businesses through its ClipDrop Boxes that gives
users the capability of making deposits outside of their bank
branch at top retailers and shopping malls. Rather than having to
go to their personal bank branch or using a cash pickup service,
businesses can deposit their cash at any ClipDrop Box located near
them. After being deposited, the funds will automatically be
credited to the business’ bank account, usually within one business
day. The Company combines functional hardware, an intuitive mobile
app and an innovative cloud-based transaction engine that maximizes
business banking transactions. Combined with mobile user
applications, Clip Money offers a cost-effective and convenient
solution for business banking deposits in metropolitan statistical
areas across Canada and the United States. For more information
about the Company, visit www.clipmoney.com.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
For further information, please contact:
Joseph ArrageChief Executive Officertel:
844-593-2547
Clip Money (TSXV:CLIP)
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