TORONTO, ONTARIO--(Marketwired - March 31, 2017) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Breaking Data Corp. (TSX VENTURE:BKD) (the "Company") is pleased to announce that, in connection with its previously announced offering of up to 12,500,000 subscription receipts (the "Subscription Receipts") for aggregate gross proceeds of up to $5,000,000 (the "Offering"), it has entered into an agreement with Clarus Securities Inc. and Haywood Securities Inc. to purchase, on a bought deal private placement basis, 2,500,000 Subscription Receipts (the "Underwritten Subscription Receipts") for aggregate gross proceeds of $1,000,000 (the "Underwritten Tranche"). Upon completion of the Underwritten Tranche, the Company will have issued an aggregate of 12,500,000 Subscription Receipts under the Offering, for aggregate gross proceeds of $5,000,000.
Breaking Data Corp. plans to use the net proceeds of the Offering for working capital requirements and general corporate purposes.
The Underwritten Tranche is scheduled to close on or about April 6th, 2017, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange ("TSXV"). The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
The TSXV does not accept responsibility for the adequacy or accuracy of this release.
About Breaking Data Corp.
Breaking Data Corp. is a technology provider of semantic search, machine learned language and Natural Language Processing ("NLP"). The Company has two geographical segments including a head office and general operations of Breaking Data International and Poynt Inc. in Canada, and its subsidiary, DTI, in the United States. The Company's technology platform, Cluuz uses semantic and machine learning techniques to process, analyze and interpret aggregated data in order to extract key sentiments, facts, opinions, user interests and intents. Its showcase application, BreakingSports utilizes semantic, machine learned language and NLP to track social media in fully automated, real-time manner, for sports information and events, and distributes summarized information through real-time push notifications to consumers. It also enables mobile application providers to generate revenue into their applications via its Poynt-Enabled software development kit.
The company's shares are listed on the TSXV under the symbol "BKD".
For further information please refer to the Company's website at www.breakingdatacorp.com.