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TORONTO, March 28, 2016 /CNW/ - Midpoint Holdings Ltd.
(the "Company") (TSXV: MPT) is pleased to announce a private
placement of up to 10,000,000 units ("Units") at a price of
$0.10 per Unit (the
"Offering") for gross proceeds of up to $1,000,000. Each Unit will consist of one common
share (a "Common Share") in the capital of the Company and
one-half of one Common Share purchase warrant (each whole warrant,
a "Warrant"). Each Warrant shall entitle the holder thereof
to purchase one Common Share for a period of twenty four (24)
months from the closing of the Offering at a price of $0.20 per Common Share, provided that if, at any
time after the date that is more than four months and one day
following the closing of the Offering, the Common Shares trade on a
stock exchange at a volume weighted average trading price of
$0.50, or greater, per Common Share
for a period of 20 consecutive trading days, the Company may
accelerate the expiry date of the Warrants by giving notice to the
holders thereof and in such case the Warrants will expire on the
30th day after the date on which such notice is given by
the Company.
Certain insiders of the Company intend to participate in the
Offering.
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 and has
neither approved nor disapproved of the contents of this press
release.
This news release contains certain "forward-looking
information" within the meaning of applicable securities law.
Forward looking information is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "would", "potential",
"proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur. These statements are
only predictions. Forward-looking information is based on the
opinions and estimates of management at the date the information is
provided, and is subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking
information. For a description of the risks and uncertainties
facing Midpoint and its business and affairs, readers should refer
to Midpoint's Management's Discussion and Analysis. Midpoint
undertakes no obligation to update forward-looking information if
circumstances or management's estimates or opinions should change,
unless required by law. The reader is cautioned not to place undue
reliance on forward-looking information.
SOURCE Midpoint Inc.