Vancouver, BC – 360 Capital Financial Services Group Inc. (CSE:TSZ, www.360capital.ca) announced today that the company has closed its previously reported non-brokered private placement (“Offering”), which is oversubscribed. The Company issued 6,000,000 Units at $0.025 per Unit for aggregate gross proceeds of $150,000. Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant, with each share purchase warrant being exercisable into one Common Share at a price of $0.05 for a period of three years from the date of issuance. Subscribers included existing shareholders who are also officers and directors of the company.
The proceeds of the Offering, including the oversubscription of $50,000 will be used for working capital.
Closing of the Offering is subject to receipt of approval from the Exchange and all securities issued are subject to a four-month and one day statutory hold period in accordance with applicable Canadian securities laws.
About 360 Capital Financial Services Group Inc.
360 Capital Financial Services Group (CSE:TSZ, www.360capital.ca), through our subsidiaries and affiliated companies, provides a broad range of financial services to emerging private and public companies. We “Connect Capital to Growth™” by raising equity, providing corporate finance advisory, merchant banking, IPO consulting and market support services for our clients. To assist in fulfilling these services, 360 Capital has created our 360 Funding Escalator™ model which bridges the capital raising gap from early stage development to exit and liquidity for emerging companies. This enables us to help develop, grow, and invest in venture business opportunities through equity investments, acquisitions, partnerships, JVs, and strategic alliances in Canada and Asia.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.