FTI Foodtech hires marketer for private placement
2018-02-07 13:06 ET - News Release
Mr. William Hullah reports
FTI RETAINS STOCKHOUSE TO MARKET PRIVATE PLACEMENT
FTI Foodtech International Inc. has retained Stockhouse Publishing Ltd. of Vancouver, B.C., to market the private placement offering announced Dec. 29, 2017.
The offering is a non-brokered offering of six million units of the issuer, at a price of 50 cents per unit. Each unit will comprise one common share and one common share purchase warrant, each warrant being exercisable to acquire one common share at a price of $1 per common share for a period of one year following the closing date of the private placement (date to be determined).
The fully subscribed offering would have gross proceeds of $3-million, with a potential for an additional $6-million with fully exercised warrants. These proceeds will be used for costs related to the integration of the Flash cryptocurrency with the barter industry, to finance liquidation projects, to evaluate other opportunities, to cover the company's operating expenses, and to reduce company debt. A further press release will be issued once the financing has been completed.
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