/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
CALGARY, July 28, 2017 /CNW/ - Trakopolis IoT Corp.
("Trakopolis" or the "Company") (TSX VENTURE: TRAK)
is pleased to announce that it has appointed a syndicate, led by
Canaccord Genuity Corp. (the "Agent") to sell, by way of a
private placement on a "commercially reasonable efforts" basis,
units (the "Units") of the Company at a price of
$0.90 (the "Issue Price") per
Unit for gross proceeds of up to $2,025,000 (the "Offering").
The Offering will consist of up to 2,250,000 Units, where each
Unit shall consist of one common share (a "Common Share")
and one-half of one Common Share purchase warrant (each whole
Common Share purchase warrant, a "Warrant"). Each Warrant
will entitle the holder to purchase one Common Share for a period
of two years from the closing date of the Offering at an exercise
price of $1.20 per Common Share.
The Agent has been granted the option (the "Agent's
Option") to sell up to an additional 337,500 Units at the Issue
Price pursuant to the Offering, which Agent's Option is exercisable
in whole or in part at any time up to 48 hours prior to the closing
of the Offering.
The net proceeds of the Offering will be used for expansion,
business development activities and general working capital and
corporate purposes.
The closing of the Offering is expected to occur on or about
August 22, 2017, and is subject to
receipt of all necessary regulatory approvals, including the
approval of the TSX Venture Exchange. All securities issued
pursuant to the Offering will be subject to a four month hold
period in accordance with applicable Canadian securities laws.
This press release shall not constitute an offer to sell or
solicitation of an offer to buy the securities in any jurisdiction.
The securities will not be and have not been registered under the
United States Securities Act of 1933, as amended, and may not be
offered or sold in the United
States absent registration or applicable exemption from the
registration requirements.
About Trakopolis
Trakopolis is a Software as a Service
(SaaS) company with proprietary, cloud-based solutions for
real-time tracking, data analysis and management of corporate
assets such as equipment, devices, vehicles and workers. The
Company's asset management platform works across a variety of
networks and devices. Trakopolis has a diversified revenue stream
from many verticals including oil and gas, forestry,
transportation, construction, rentals, urban services, mining,
government and others.
Disclaimer for Forward-Looking Information
Certain information set forth in this news release may
contain forward-looking statements that involve substantial known
and unknown risks and uncertainties, certain of which are beyond
the control of Trakopolis. Forward-looking statements are
frequently characterized by words such as "plan", "continue",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "potential", "proposed" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements in this press release include the
anticipated timing for closing of the Offering and the anticipated
use of proceeds of the Offering. Forward-looking statements are
necessarily based on a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties and other factors which may cause actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors
include, but are not limited to: general business, economic and
social uncertainties; litigation, legislative, environmental and
other judicial, regulatory, political and competitive developments;
delay or failure to complete the Offering; those additional risks
set out in the Company's public documents filed on SEDAR at
www.sedar.com. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Except where required by
law, the Company disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
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.
SOURCE Trakopolis IoT Corp.