29 Feb Plus8 Global Ventures Completes Oversubscribed Private Placement
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Plus8 Global Ventures Completes Oversubscribed Private Placement
Vancouver, British Columbia, February 29, 2016 – Plus8 Global Ventures, Ltd. (CSE: PGT), (the “Company”) announces that it has completed its non-brokered private placement, as announced on February 4, 2016 and February 9, 2016 (the “Private Placement”). The previously announced $168,750 Private Placement was oversubscribed and the Company raised total gross proceeds of $193,124 through the issuance of 1,716,661 units (the “Units”) at a price of $0.1125 per Unit. Each Unit consists of one common share and one common share purchase warrant, with each warrant (a “Warrant”) entitling the holder to purchase one additional common share of the Company at a price of $0.20 for a period of 18 months from closing. In connection with the Private Placement, the Company has also issued 99,000 warrants to certain finders (the “Finders’ Warrants”). The Finders’ Warrants have the same terms as the Warrants. All securities issued in the Private Placement are subject to a statutory four month hold period. The net proceeds from the Private Placement will be used by the Company to support the ParcelPal beta program and for general working capital purposes. The Company confirms that there is no material fact or material change relating to the Company or its business that has not been generally disclosed.
The Canadian Securities Exchange or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release that has been prepared by management of the Company.
Listing: CSE– Symbol: PGT
Shares issued: 25,401,511
Contact: Jason Moreau, President and Chief Executive Officer, Plus8 Global Ventures, Ltd. – 604-401- 8700.
Forward Looking Information
This news release contains forward looking statements relating to the Private Placement. Forward looking statements are often identified by terms such as “will”, “may”, “should”, “intends”, “anticipates”, “expects”, “plans” and similar expressions. All statements other than statements of fact included in this release are forward looking statements that involve risks and uncertainties. These risks and uncertainties include, without limitation, the risk that the use of the net proceeds from the Private Placement will be different than described in this news release. There can be no assurance that any forward looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements contained in this news release are expressly qualified by this cautionary statement. The forward looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward looking statements as expressly required by Canadian securities laws.