Nubeva Technologies Ltd NBVAF

Nubeva arranges $500,000 private placement

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Nubeva Technologies Ltd. has arranged a non-brokered private placement of units for gross proceeds of $500,000. All dollar amounts in this news release are stated in Canadian dollars.

The offering shall consist of 1,111,111 units at a price of 45 cents per unit. Each unit shall consist of one common share in the capital of the company and one common share purchase warrant, each warrant entitling the holder to acquire one common share at a price of 65 cents per common share for a period of up to three years. If at any time subsequent to the date which is four months and a day from completion of the offering, the closing price of the common shares as quoted on TSX Venture Exchange for any 10 consecutive trading days is equal to or exceeds $1 per common share, the company may provide notice to the holders of the warrants by issuance of a press release that the expiry date of the warrants will be accelerated to the 30th day after the date on which the company issues such press release. 

There are no fees associated with this offering. The proceeds from the offering will be used for general working capital purposes. The offering will be completed pursuant to certain exemptions from the prospectus requirements under applicable securities law. The offering is subject to the acceptance of the TSX Venture Exchange, and the securities issued will be subject to the required four-month hold period.