(TheNewswire)
Oakville, Ontario – TheNewswire - March 31, 2022 – DXStorm.Com (TSXV:DXX) ("DXStorm”) announces an amended private placement of up to 2,857,142 million Units of common shares and warrants for gross proceeds of $100,000. Each Unit consists of one common share at $0.035 per common share and one full warrant to acquire one additional common share of the Company at $0.10 per share for a period of two years from the date of closing. A news release that was filed on February 23, 2022 had the private placement of up to 3,000,000 million Units of common shares and warrants priced at $0.03 per unit. On the date of the news release the stock last traded at $0.035. As per the Exchange's Temporary Relief of $0.05 Minimum Pricing Requirement Bulletin, the Exchange will not accept any discounts on prices below $0.05.
The terms of the private placement are according to the TSX Venture Exchange discretionary waivers of five-cent minimum pricing requirement bulletin dated April 7, 2014, and are subject to exchange approval.
The proceeds from the private placement will be used as follows:
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CORPORATE ADMINISTRATIVE EXPENSES
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Accounting fees
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6,000
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Internet connections
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40,350
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Salaries
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42,000
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Shareholder expense (Transfer Agent/Filing fees)
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9,900
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Share issue costs (TSX-V/OSC Fees)
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1,750
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Gross Proceeds
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100,000
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About DXStorm.com
Its principal business is providing services relating to medical application software development, e-commerce and internet based solutions to clients in Canada and the United States.
For further information please contact:
Zoran Popovic, President & CEO
Phone: 905-330-6691
Email: zoran@dxstorm.com
Neither 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 STATEMENT: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements regarding exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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