ePals Closes Third Tranche of Non-Brokered Private Placement
2013年12月21日 - 6:00AM
Marketwired
ePals Closes Third Tranche of Non-Brokered Private Placement
Not for Distribution to United States Newswire Services or
Dissemination in the United States
WASHINGTON, DC--(Marketwired - Dec 20, 2013) - ePals Corporation
(TSX-VENTURE: SLN) ("ePals" or the "Company") has completed the
third tranche of its previously announced non-brokered private
placement (the "Offering") and issued 22,278,812 units of the
Company (each, a "Unit") at a price of C$0.075 per Unit for gross
proceeds of C$1,670,911. Each Unit consists of one common share of
the Company and one-third of one common share purchase warrant
(each whole warrant, a "Warrant"). Each Warrant entitles the holder
to purchase one additional common share of the Company at a price
of C$0.075 until April 30, 2014.
An aggregate of 21,078,814 of the Units issued consisted of one
restricted voting common share and one-third of one Warrant, with
each Warrant being exercisable to acquire one restricted voting
common share. An aggregate of 1,199,998 of the Units issued
consisted of one voting common share and one-third of one Warrant,
with each Warrant being exercisable to acquire one voting common
share. Each restricted voting common share is convertible into one
voting common share at any time at the option of the
holder. The restricted voting common shares are not listed or
posted for trading on the TSX Venture Exchange or any other stock
exchange or marketplace and do not carry the right to vote for the
election of directors of the Company.
The Company intends to use the net proceeds of the Offering for
general corporate purposes and working capital.
Subscriptions by insiders of the Company accounted for
approximately Cdn$137,500 of the gross proceeds of this third
tranche of the Offering. Participation in this third tranche
of the Offering by the insiders is exempt from the valuation and
minority shareholder approval requirements of Multilateral
Instrument 61-101 Protection of Minority Security Holders in
Special Transactions ("MI 61-101") by virtue of the exemptions
contained in Sections 5.5(b) and 5.7(1)(b) of MI 61-101.
The securities described herein have not been and will not be
registered under the U.S. Securities Act of 1933, as
amended, or any state securities laws and may not be offered or
sold in the United States absent registration or an applicable
exemption from those registration requirements. This press release
does not constitute an offer to sell or the solicitation of an
offer to buy any securities nor shall there by any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
All securities issued pursuant to the Offering are subject to
resale restrictions for a period of four months from the closing
date of the applicable tranche of the Offering.
About ePals Corporation
ePals Corporation (TSX-VENTURE: SLN) is an education media
company and the leading Global Learning Network. Focused on the
K-12 market, ePals offers school administrators, teachers, students
and parents worldwide trusted content, interactive learning
experiences, and a collaborative learning community.
ePals' award-winning products include: popular children's
educational publishing brands from toddlers to teens, including
CricketR and CobblestoneR; the ePals Global CommunityR; and
In2BooksR, a common core eMentoring program that builds reading,
writing and critical thinking skills. ePals also offers
SchoolMail365 and has recently launched ToolsforSchool.com, a
teaching resource marketplace connecting educators to original,
classroom-tested content. Also new is a full service
content-licensing, clearance and production service for education
publishers. ePals serves approximately 1 million classrooms and
reaches millions of teachers, students and parents in 222 countries
and territories.
Product websites include: www.ePals.com; www.Cricketmag.com;
www.In2Books.com; and www.ToolsforSchool.com. Corporate
information is available at www.corp.ePals.com.
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.
Forward Looking Statements
This press release contains statements that may constitute
"forward-looking statements" within the meaning of applicable
Canadian securities legislation. These forward-looking statements
include, among others, statements regarding the completion of the
Offering and the expected use of proceeds of the Offering. Readers
are cautioned not to place undue reliance on such forward-looking
statements. Forward-looking statements are based on current
expectations, estimates and assumptions that involve a number of
risks, which could cause actual results to vary and in some
instances to differ materially from those anticipated by the
Company and described in the forward-looking statements contained
in this press release. No assurance can be given that any of the
events anticipated by the forward-looking statements will transpire
or occur or, if any of them do so, what benefits the Company will
derive there from. The forward-looking statements contained in this
news release are made as at the date of this news release and the
Company does not undertake any obligation to update publicly or to
revise any of the forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be
required by applicable securities laws.
Contact Information: Aric Holsinger Chief Financial Officer
ePals Corporation Phone: (703) 885-3400 aholsinger@corp.epals.com
Cory Pala Investor Relations E.vestor Phone: (416) 657-2400
cpala@corp.epals.com
Epals Corporation (TSXV:SLN)
過去 株価チャート
から 5 2024 まで 6 2024
Epals Corporation (TSXV:SLN)
過去 株価チャート
から 6 2023 まで 6 2024