SOURCE: 3 Tier Logic

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May 03, 2016 17:59 ET

3TL Technologies Corp. Closes Private Placement of Units

VANCOUVER, BC--(Marketwired - May 03, 2016) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

3TL Technologies Corp. (TSX VENTURE: TTM) (the "Company"), announces that it has closed a non-brokered private placement of 3,666,667 units of the Company (the "Units") at $0.075 per Unit for gross proceeds of $275,000 (the "Offering"). Rob Craig, CEO and a director of the Company, subscribed for 1,333,333 units. Carlos Yong, CTO of the Company, subscribed for 666,667 units.

Each Unit consists of one common share in the capital of the Company (a "Share") and one-half of a share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.10 per Warrant Share for a period of two years from the closing of the Offering. The Company paid a finder's fee of $1,000 on the Offering, within the amount permitted by the policies of the TSX Venture Exchange (the "Exchange"). All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The net proceeds of the Offering will be used to fund the Company's sales, marketing, and research and development activities and for general working capital purposes.

The Company granted 825,000 stock options to directors of the Company. These options have an exercise price of $0.075 per share and expire on April 25, 2021. In addition, the Company granted 3,300,000 restricted share units to directors and consultants to the Company.

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. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. 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. 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.

Contact Information

  • For further information, please contact:

    3 TL Technologies Corp.
    Robert Craig
    Chief Executive Officer
    (604) 639-5441
    rcraig@3tierlogic.com