TORONTO, ONTARIO--(Marketwired - Aug. 30, 2016) - BeWhere Holdings Inc. (TSX VENTURE:BEW) ("BeWhere" or the "Company") is pleased to announce that due to unanticipated demand for its non-brokered private placement announced of August 25, 2016 it has decided to increase the offering from 1,333,333 units at $0.15 per unit, to 8,000,000 units for gross proceeds of $ 1,200,000. Of the total gross proceeds, $200,000 will be subscribed by Owen Moore and Chris Panczuk, directors and officers of the Company.
Each Unit will consist of one common share in the capital of the Company and one half share purchase warrant (a "Warrant"). Each full Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.25 per Warrant Share for a period of 36 months from the closing of the Offering. The net proceeds from the Units will be used for general corporate working capital.
The Company will pay a finder's fee on the offering within the amount permitted by the policies of the TSX Venture Exchange. Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including 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.
BeWhere designs and manufactures Bluetooth beacons that in combination with mobile applications, middle-ware and cloud based solutions, provide users with real-time information on the condition and location of their items in transit or at facilities.
ON BEHALF OF THE BOARD
CEO & Director
Neither the 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.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
BeWhere Holdings Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.