Pounce Technologies Inc. V.POI.H

Slyce arranges $5.29-million offering

[theorlando]

2015-04-24 08:07 ET - News Release Mr. Mark Elfenbein reports SLYCE INC. ANNOUNCES $5.3 MILLION BOUGHT DEAL FINANCING Slyce Inc. has entered into an agreement with a syndicate of underwriters co-led by Salman Partners Inc. and Beacon Securities Ltd., and including PI Financial Corp., pursuant to which the underwriters have agreed to purchase, on a bought-deal basis pursuant to the filing of a short-form prospectus, 11.5 million common shares of the company at a price of 46 cents per common share for aggregate gross proceeds to Slyce of $5.29-million. The company has agreed to grant the underwriters an overallotment option to purchase up to an additional number of common shares equal to 15 per cent of the common shares sold pursuant to the offering at a price per additional share equal to the issue price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the offering. If this option is exercised in full, an additional $793,500 in gross proceeds will be raised pursuant to the offering and the aggregate gross proceeds of the offering will be $6,083,500. The common shares will be offered by way of a short-form prospectus to be filed in British Columbia, Alberta and Ontario. The company intends to use the net proceeds from the offering for working capital and general corporate purposes. The offering is expected to close on or about May 14, 2015, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities. We seek Safe Harbor. © 2015 Canjex Publishing Ltd. All rights reserved.