NFT Tech proposes a private placement of up to $ 2 million

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  • A leading technology company partnering with leading brands to accelerate its entry into the web3 world through cutting edge technologies and unparalleled creativity, is pleased to announce a zero-inclusive private release. limit of units (“Units”) with a total proceeds of up to C$2,000,000 (“Offer”) from the sale of up to 13,333,333 Units for $0.15 per Unit (“Private Location”)). Private Placement is expected to end on or about October 5, 2022 (“End Date”).

Each Unit consists of one non-par value Class A voting common stock of NFT Tech (“Unit Share”) and a warrant (“Warrant”) to purchase one common share (“Warranty Shares”). Each warrant may be exercised at any time for a period of two years from the date such warrants are issued, and at a price of $0.30 per share, the warrants are governed by the terms of the warrant. warrant agent agreement between NFT Tech and Odyssey Trust Company, as the warrantee agent.

Under the Warrants, if the 10-day average volume-weighted price of the shares traded on the NEO Exchange is equal to or greater than $0.60, the issuer has the option to delay the expiration date. of the Warrant until one 30 days from the date of written notice in the form of a press release or other authorized form of notice. The offer does not depend on the minimum deposit amount. The net proceeds of the Offering are intended to be used to finance the cash portion of the purchase price for the previously announced acquisition of Run It Wild by the Company and for general working capital purposes.

The issued and outstanding ordinary shares of NFT Tech are listed on the NEO Exchange under the symbol “NFT”; on the Frankfurt Stock Exchange in Germany, under the symbol “8LO”; and on OTCPINK in the US with the symbol “NFTFF”. Units of Shares, Warrants and Basic Shares accompanying the Warrants will be subject to a Canadian legal lien term extending up to four months and one day after the End Date.

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