Neptune Dash Technologies Secures up to $4 Million Equity Facility with New York Private Equity Firm Alumina Partners LLC
15 4월 2020 - 5:53AM
Neptune Dash Technologies Inc. - (the "Company" or "Neptune")
(TSX.V:DASH) (OTC:NPPTF) (FSE:1NW) is pleased to announce that the
Company has entered into a non-binding agreement for a draw-down
equity facility (the “
Facility”) of up
to $4,000,000. The agreement provides for equity private
placement offerings (the "
Offerings"), to be
conducted between Neptune and Alumina Partners LLC, a New
York-based private equity firm, in draw down amounts at the sole
discretion of the Company, of up to $250,000. Pursuant to the
terms of the Offerings, Alumina Partners will commit to purchase up
to $4,000,000 of units of the Company (the
"
Units"), consisting of one common share (the
"
Shares") and one common share purchase warrant
(the "
Warrants"), at discounts ranging from 15% to
25% of the market price of the Shares, with each Offering occurring
exclusively at the option of the Company, throughout the 24 month
term of the agreement. The exercise price of the Warrants will be
at a 25% premium over the market price of the Shares.
“We are very pleased that Alumina Partners will
be providing us with capital to take advantage of strategic crypto
purchasing opportunities,” said Cale Moodie, CEO. "This
arrangement provides Neptune with the control over the timing and
therefore the pricing and the amount of capital to be raised in
order to shore up the balance sheet with additional crypto
assets.”
“Alumina is excited to benefit from more
exposure to a strategically managed cryptocurrency portfolio,” said
Adi Nahmani, Alumina’s Managing Member. “We feel that Neptune
Dash’s management team of crypto market veterans is unusually
well-positioned to seek risk-adjusted returns using carefully
selected crypto assets as a currency hedge, an inflation hedge and
a speculative bet on the resurgence of popular interest in the
space.”
The purpose of the Offering is to provide the
Company with the financial flexibility and unilateral control over
strategic crypto currency purchasing as well as general working
capital requirements.
About Neptune Dash Technologies
Corp.
The Company primarily builds and operates
Masternodes and invests in Node technologies. The Company also has
a diversified cryptocurrency portfolio through investments made in
Proof-Of-Stake tokens and their associated blockchain
technologies.
For further information please contact:
Neptune Dash Technologies Corp.
Cale Moodie, President and CEO 310 – 36 Water street, Vancouver,
BC V6B 0B7 Phone: (604) 319-6955 Email: info@neptunedash.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
This release contains certain “forward looking
statements” and certain “forward-looking information” as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”
or similar terminology. Forward-looking statements and information
include, but are not limited to, the completion of any Offerings
and the use of proceeds from such Offerings. Forward-looking
statements and information are based on forecasts of future
results, estimates of amounts not yet determinable and assumptions
that, while believed by management to be reasonable, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Forward-looking statements and
information are subject to various known and unknown risks and
uncertainties, many of which are beyond the ability of the Company
to control or predict, that may cause the Company’s actual results,
performance or achievements to be materially different from those
expressed or implied thereby, and are developed based on
assumptions about such risks, uncertainties and other factors set
out here in, including but not limited to: the inherent risks
involved in the cryptocurrency and general securities markets; the
Company’s ability to successfully mine digital currency; revenue of
the Company may not increase as currently anticipated, or at all;
the Company may not be able to profitably liquidate its current
digital currency inventory, or at all; a decline in digital
currency prices may have a significant negative impact on the
Company’s operations; the volatility of digital currency prices;
uncertainties relating to the availability and costs of financing
needed in the future; the inherent uncertainty of production and
cost estimates and the potential for unexpected costs and expenses,
currency fluctuations; regulatory restrictions, liability,
competition, loss of key employees and other related risks and
uncertainties. The Company undertakes no obligation to update
forward-looking information except as required by applicable law.
Such forward-looking information represents management's best
judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future
results may vary materially. Accordingly, readers are advised not
to place undue reliance on forward-looking statements or
information.
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