/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 14, 2017 /CNW/ - 3tl Technologies
Corp. (TSXV:TTM) (the "Company"), announces today
that further to its news releases dated May
24, 2017 the Company has completed the first closing (the
"First Close") of a non-brokered private placement of up to
8,333,333 units of the Company (the "Units") at $0.30 per Unit for gross proceeds of
approximately $2.5 million (the
"Offering"). The Company intends to close another
tranche of the Offering later this month.
The First Close consists of 2,579,666 Units for gross proceeds
of approximately $773,900. Each Unit consists of one
common share in the capital of the Company (a "Share") and
one Share purchase warrant (each, a "Warrant"). Each
Warrant entitles the holder to purchase one additional Share (a
"Warrant Share") at a price of $0.60 per Warrant Share for a period of five
years from the closing of the First Close.
The primary use of proceeds of the First Close is to hire
additional sales people and for working capital.
All Units issued pursuant to the private placement will be
subject to a hold period of four months plus one day from the date
of issuance.
Three insiders of the Company was issued, directly and
indirectly, Units in the aggregate of $232,500, which constituted a "related party
transaction" within the meaning of Multilateral Instrument 61-101-
Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). The issuance to the insiders
is exempt from the formal valuation and the minority shareholder
approval requirements of MI 61-101 as the fair market value of the
Units issued to or the consideration paid by such insiders did not
exceed 25% of the Company's market capitalization.
The Company also announced that it has retained Ward Kondas of 1712060 Alberta Co. ("1712060
Alberta") to provide strategic
investor relations and financial communications services.
Under the terms of the agreement, the Company will pay 1712060
Alberta a monthly retainer fee of $12,500 for select strategic communications
services. The contract term is for 12 months and commences
immediately. The agreement is subject to the approval of the TSX
Venture Exchange.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described in
this news release in the United
States. Such securities have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities
laws, and, accordingly, may not be offered or sold within
the United States, or to or for
the account or benefit of persons in the
United States or "U.S. Persons", as such term is defined in
Regulation S promulgated under the U.S. Securities Act, unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
About 3tl Technologies Corp.
PLATFORM³ is a Software
as a Service (SaaS) consumer marketing platform. It enables
Consumer Packaged Goods (CPG) companies and consumer brands to
engage shoppers through their mobile device and influence their
purchasing decisions. PLATFORM³ encompasses proprietary consumer
engagement strategies and technology modules including optical
character recognition (purchase receipt scanning), digital
promotions, purchase data mining, loyalty and rewards. CPG
companies and major retail brands use PLATFORM³ to influence and
incentivize shoppers to interact with their brand and make
purchases in-store and online.
For more information, visit 3tltechcorp.com. For
additional information about the company please visit
www.sedar.com.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Important factors - including the availability of
funds and the results of financing efforts, - that could cause
actual results to differ materially from the Company's expectations
are disclosed in the Company's documents filed from time to time on
SEDAR (see www.sedar.com). Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company disclaims any
intention or obligation, except to the extent required by law, to
update or revise any forward-looking statements, 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 3tl Technologies Corp.