RE:RE:look like nobody caresSuperinvestor01 wrote: Stock is down again today. Never try to catch a falling knife. 20 cents soon. Anybody have any details on the people behind this play?
superinvestor, here directly from SEDAR. So far looks legit. Canaccord did the IPO. that figures.
Highlights On November 6, 2019, the Company completed its initial public offering (the "Offering") pursuant to a prospectus dated October 2, 2019 (the "Prospectus"). Pursuant to the Offering, the Company issued an aggregate of 25,200,000 common shares (each, a "Share") at a purchase price of $0.30 per Share for gross proceeds of $7,560,000. Upon completion of the Offering, the Company had 109,720,000 common shares issued and outstanding, of which
57,720,000 common shares were subject to securities law and contractual escrow requirements. Canaccord Genuity Corp. ("Canaccord") acted as agent on a commercially reasonable efforts basis in respect of the Offering and received a cash commission and corporate finance fee in consideration for its services. In addition, Canaccord received 2,016,000 nontransferable options to acquire up to 2,016,000 Shares at a price of $0.30 per Share until November 6, 2021. Proceeds of the Offering will be used for marketing, research and development and intellectual property costs as well as general administrative and working capital purposes. The Company also received approval to list the Company's common shares on the Canadian Securities Exchange (the “Exchange” or the "CSE"). The Company’s common shares were listed on the CSE on November 5, 2019 and immediately halted pending closing of the Offering. The common shares commenced trading on the CSE on November 7, 2019 under the trading symbol "WIFI".
57 million shares in escrow!!!! OUCH. 10% of that came free trading at IPO then another 15% evey 6 months.