(via Thenewswire.ca)
Abbotsford, BC / TheNewswire / July 24th, 2015 - Gatekeeper Systems Inc. ("Gatekeeper" or the "Company") (TSX.V: GSI; OTC: GKPRF) announces that the non-brokered private placement offering as announced on July 9, 2015 (the "Offering"), has been oversubscribed. The Company now proposes to raise a total of up to $1,970,925 through the issuance of up to 13,139,502 units (the "Units") at a price of $0.15 per Unit, subject to TSX Venture Exchange approval.
Each Unit issued under the Offering will consist of one common share and one-half of one common share purchase warrant (the "Warrant"), each full Warrant exercisable at $0.25 for a period of 24 months from the date of issue.
Proceeds of the Offering will be used to fulfill the Company's current backlog of orders, support inventory, develop software and products, expand the sales and engineering team, and for general working capital. Finder's fees may be payable on the Offering.
About Gatekeeper Systems Inc.
Gatekeeper provides innovative, end-to-end video safety and security solutions for mobile applications including body cameras, in-car police video systems, school bus video and stop arm camera video enforcement systems, transit bus video systems, and airborne digital recording systems for military applications.
The Company is headquartered in Abbotsford, British Columbia, Canada, and its shares are traded on the TSX Venture Exchange under the symbol "GSI", and on the OTC Markets under the symbol "GKPRF".
For more information visit: www.gatekeeper-systems.com.
On behalf of the Board,
"Douglas Dyment"
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This release contains forward-looking statements, including statements regarding the possible completion of a non-brokered private placement and the intended use of proceeds from the Offering. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any required government or other regulatory approvals to complete the Company's planned private placement and operations and that the Company is able to complete the Offering. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks may include, among others, that the Offering will not complete, actual results of the Company's operations being different than those expected by management and delays in obtaining or failure to obtain required government or other regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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