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AMPD Ventures Announces Closing of Second and Final Tranche of $1.83 Million Private Placement Financing
Tuesday, September 6, 2022Company Profile | Follow Company
Vancouver, BC, September 6, 2022--(T-Net)--AMPD Ventures Inc. (CSE: AMPD) (OTCQB: AMPDF) announced that it has closed the second and final tranche of the Company's $1.83 million non-brokered private placement financing.
In conjunction with the closing, the Company issued an additional 8,454,999 Units at a price of CAN$0.14 per Unit for gross proceeds of CAN$1,183,700, resulting in a total issuance for the Private Placement of 13,053,571 Units for total gross proceeds of CAN$1,827,500.
The Company intends to use the proceeds from the private placement for the deployment of AMPD infrastructure, to increase headcount, and for general working capital purposes.
About AMPD Ventures Inc.
AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, AMPD is leading the transition to the next generation of computing infrastructure as 'the hosting company of the Metaverse.'
Through a mix of infrastructure as a service ("IaaS") and an upgraded, high-performance cloud offering, we are meeting the low-latency requirements of multiplayer video games and eSports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades.
Additional information about the company is available on SEDAR and our website at http://www.ampd.tech.
Additional Details on the Financing
Each Unit is comprised of one common share of the Company (each a 'Share') and one common share purchase warrant (each a "Unit Warrant" and, collectively, the "Unit Warrants"), with each Unit Warrant entitling the holder to subscribe for one Common Share (each a "Warrant Share" and, collectively, the "Warrant Shares") in the capital of the Corporation at an exercise price of CAN$0.20 per Warrant Share for a period of 18 months following the date of the closing of the Private Placement.
In connection with the second and final tranche of the Private Placement, the Company paid certain finders CAN$60,583.60 in cash, and 432,740 Unit Warrants as finder's fees, resulting in total finder's consideration across the Private Placement of CAN$92,629.60 in cash and 661,640 Unit Warrants.
All securities issued under the private placement are subject to a four-month and one-day hold period, and completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange ("CSE").
Forward Looking Statements This news release contains statements and information that constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of our management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances and at the date that such statements are made, but which may prove to be incorrect. Forward looking information in this news release includes statements about management's intended use of the proceeds of the Private Placement, and management's ability to complete the Acquisition, and management's plans to accelerate the rollout of AMPD's High-Performance Edge computing environments around the world, and any other statements that are not statements of historical fact. [ MORE ] |
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