Private Placement VANCOUVER, British Columbia, July 25, 2017 (GLOBE NEWSWIRE) -- RewardStream Solutions Inc. (“RewardStream” or the “Company”) (REW.V) (JL4L.F) (WKN Number A2APX1) announces that it is proceeding with a non-brokered private placement (the “Private Placement”) of up to 5,000,000 units of the Company (the “Units”) at $0.085 per Unit for gross proceeds of up to $425,000.
Each Unit consists of one common share and one-half of one share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one additional common share at a price of $0.17 per share for a period of 24 months from the close of the Private Placement. The Warrants are subject to an accelerated expiry if the 10 trailing-day volume weighted average price of the Company’s shares on the TSX Venture Exchange (“TSX-V”) exceeds $0.255. In such event the holder will be given notice that the Warrants will expire 30 days following the date of such notice. The Warrants will be exercisable by the holder during the 30-day period between the notice and the expiration of the Warrants.
In connection with the Private Placement, RewardStream will pay eligible finders a cash commission of 8% of the proceeds from the Private Placement, and issue non-transferable finders warrants (a "Finders Warrant") of 8% of the common shares issued from the Private Placement. Each Finders Warrant entitles the holder to acquire one common share at an exercise price of $0.17 per share for two years from the close of the Private Placement.
The net proceeds of the Private Placement will be used for general working capital and corporate purposes.
The Private Placement will be subject to final TSX-V acceptance.