October 13, 2016 09:00 ET
MONTREAL, QUEBEC--(Marketwired - Oct. 13, 2016) - AtmanCo inc. ("AtmanCo" or the "Company") (TSX VENTURE:ATW), a leader and innovator in web psychometric test solutions for the corporate market and the consumer market, is pleased to announce the closing of a private placement consisting of the issuance of 4,576,472 units at a price of $0.085 per unit, for total gross proceeds of $389,000. Each unit consists of one common share and one-half of one common share purchase warrant, each whole warrant giving the holder the right to subscribe for one common share at a price of $0.15 from a period of 2 years.
Two insiders subscribed for a total of 1,882,354 units, for aggregate proceeds of $160,000. The issuance of securities to these insiders constitutes a "related party transaction" within the meaning of Regulation 61-101 respecting protection of minority security holders in special transactions ("Regulation 61-101"). Such subscriptions are exempt from the formal valuation and minority approval requirements of Regulation 61-101 on the basis that the fair market value of these securities does not exceed 25% of AtmanCo's market capitalization.
The securities issued under this private placement are subject to a four-month hold period. This private placement remains subject to the approval of the TSX Venture Exchange.
Additional information regarding the Company is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange's policies) bear no liability as to the relevance or accuracy of this press release.
AtmanCo is the publisher of a scientifically validated psychometric test. Through the HR cloud platform or the application program interface (API), the results allow the companies to optimize the talents of their human capital by improving the recruiting and organizational development success rate. AtmanCo's solutions also enable impacting the major consumer market by easily integrating them with our partners' technological solutions.
AtmanCo inc.Michel GuayFounder, president and CEOTel.: 514.935.5959 ext. firstname.lastname@example.orgSimon Bedard, CA, CPA, CFA, MBA,CFOTel.: 514.935.5959 ext. email@example.com
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