Vancouver, British Columbia--(Newsfile Corp. - September 14, 2021) - Backstageplay Inc. (TSXV: BP) (OTC Pink: PRYNF) (the "Company") announces that it is conducting a non-brokered private placement (the "Offering"), pursuant to which the Company will issue up to 5,000,000 units (the "Units") at $0.10 per Unit for gross proceeds of up to $500,000. Each Unit will consist of one common share of the Company (each, a "Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Share (a "Warrant Share") at a price of $0.15 per Warrant Share for a 24 month period from the closing of the Offering. All securities sold in the Offering will be subject to a statutory hold period of four months and a day from the date of issuance.
The Company may pay a finder's fee on the Offering within the maximum amount permitted by the policies of the exchange. The Company may complete multiple closings of the Offering, as subscriptions are received. Each closing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.
The total proceeds from the Offering will be used for general corporate working capital.
There is no material fact or material change related to the Company that has not been generally disclosed.
The Offering remains subject to approval of the TSX Venture Exchange.
About Backstageplay Inc.
Backstageplay, Inc. is an online and mobile entertainment and marketing company, engaged in the business of social gaming and retention software and services. For further information, please visit the Company's website at www.backstageplay.com.
For Further information, please contact:
Backstageplay Contacts:
Scott White, Chief Executive Officer
1 (416) 704-6611
swhite@wherisemcapital.com
Sean Hodgins, Chief Financial Officer
1 (778) 318-1514
sean@tandemig.com
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.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
NOT FOR DISSEMINATION IN THE UNITED STATES
OR TO UNITED STATES NEWSWIRE SERVICES
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