Vogogo Inc.
TSX VENTURE : VGO

Vogogo Inc.

May 28, 2015 10:02 ET

Vogogo Announces Increase in Bought Deal Financing to $10.9 Million

CALGARY, ALBERTA--(Marketwired - May 28, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Vogogo Inc. ("Vogogo" or the "Company") (TSX VENTURE:VGO) is pleased to announced that it has agreed with a syndicate of underwriters co-led by Salman Partners Inc., Clarus Securities Inc. and Beacon Securities Limited (collectively, the "Underwriters"), to upsize its previously announced bought deal public offering of common shares of the Company (the "Common Shares") to 4,840,000 Common Shares at a price of $2.25 per Common Share (the "Issue Price") for aggregate gross proceeds to the Company of $10,890,000 (the "Offering").

With the upsize, the over-allotment option granted to the Underwriters will provide the Underwriters with the option to purchase up to an additional 726,000 Common Shares at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $1,633,500 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $12,523,500.

The Common Shares will be offered by way of a short form prospectus to be filed in British Columbia, Alberta, and Ontario. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering is expected to close on or about June 16, 2015 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Vogogo

Vogogo is a TSX Venture Exchange ("TSXV") publicly traded risk management and payment services company. Founded in 2008, Vogogo designed, built and launched their web-based risk management and payment processing technology while growing their expertise in software development, compliance and related services. Vogogo is now executing on its plan to sell to target markets, focusing on opportunities where Vogogo believes it has a competitive advantage due to its value proposition and technology.

For further company information please view the Vogogo Media Kit.

READER ADVISORY

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

None of the information contained on, or connected to, Vogogo's website is incorporated by reference herein.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release contain forward-looking information. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Vogogo.

Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Vogogo.

Vogogo does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The 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 may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Contact Information

  • For further information and interviews, please contact;
    Geoff Gordon
    Chief Executive Officer
    403-648-9292

    Rodney Thompson
    Chief Revenue Officer
    403-648-9292

    Tom Wenz
    Chief Operating Officer
    403-648-9292