VANCOUVER, BC--(Marketwired - November 25, 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) ("3tl" or the "Company"), announces that it has closed a non-brokered private placement of 20,003,304 units of the Company (the "Units") at $0.05 per Unit for gross proceeds of $1,000,165.20 (the "Offering").
"We are very pleased to close an over-subscribed financing with participation from both existing shareholders and new investors," said Rob Craig, CEO of 3tl. "PLATFORM3, our Software as a Service consumer marketing platform, has been licenced by leading CPG companies and their advertising agencies for 38 digital promotions that have been completed or will commence before the end of 2016. After validating our value proposition this year, we are working with new and repeat customers to position 3tl for a breakthrough year in 2017."
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 $0.075 per Warrant Share for a period of two years from the closing of the Offering.
The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date a news release is issued announcing the accelerated expiry date in the event that the volume weighted average price of the Shares has been greater than $0.15 for any ten consecutive trading days after four months and one day after closing of the Offering.
The Company has paid eligible finders a cash commission in the aggregate amount of $61,544.00 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.
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. 3tl Technologies Corp. owns 3 tier logic and its proprietary PLATFORM3, Software as a Service (SaaS) consumer marketing platform. PLATFORM3 is used by consumer packaged goods (CPG) companies and their marketing agencies to engage shoppers through their mobile device, to influence their purchasing decisions, to activate mobile and online promotions, to verify proof-of-purchase, and to gather in-depth data about consumer purchase behaviours. PLATFORM3 encompasses proprietary consumer engagement strategies and technology modules including Digital Promotions, Receipt Scanning and Validation, Rewards and Gamification, Loyalty, Consumer-to-Consumer Sharing, Coupon Distribution, Product Recommendation Engine, Data Capture and Analytics.
For additional information about the company please visit www.sedar.com and/or 3tltechcorp.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.