2.3M private placement Plymouth Rock Technologies Inc. ( $PRT.C , $PLRTF ) is a threat detection and unmanned technologies company.
A few days ago they announced that they completed a non-brokered private placement.
In this placement they solid 5,750,000 units at a price of $0.40 for aggregate gross proceeds of $2.3M.
The units comprised of a common share and a purchase warrant for buying a share in the future for the price of $0.50
$PRT is going to use the proceeds from this placement for Tetra Drones acquisition cost, ongoing research and development and for the commercialization of PRT's technologies, and for working general capital.
For anyone invested in $PRT or thinking of investing, what do you think about this move? There seems to be some mixed feeling online but personally, I think that having this extra money is really going to serve the company (and therefore shareholders) a lot. Especially when you consider that a lot of their products are in the development phase, they need money from investors to be able to cover the costs of developing them into something that can be sold for profit.
Price is currently $0.345 with an $18.31M MC
Full article here:
https://www.plyrotech.com/press/press-release-august9-2021/