VANCOUVER, BC / ACCESSWIRE / October 3, 2023 / Vinergy Capital Inc. (the "Company" or "Vinergy") (CSE:VIN)(OTCQB:VNNYF)(FSE:1V7) is pleased to announce, further to its news release of September 26, 2023, that the Company has closed the previously announced non-brokered private placement of units of the Company (the "Units") by the issuance of 7,500,000 Units at $0.20 per Unit for gross proceed of $1,500,000 (the "Offering"). Each Unit consists of one common share in the capital of the Company (a "Share") and one half of one transferrable common share purchase warrant (each a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional Share at a price of $0.30 on or before October 3, 2025.
Michael Dalsin, Chairman of the Investment Committee, stated: "We are pleased to involve key strategic investors to propel us to our next level of growth."
Two insiders of the Company subscribed for an aggregate of 650,000 Units. Such participation is considered to be a "related party transaction" as this term is defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, for the insider participation in the Offering, as the securities do not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101.
All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation ending on February 4, 2024. The Company will use the net proceeds from the Offering for working capital and general corporate purposes.
In connection with the Offering, the Company paid aggregate cash finder's fees totaling $26,400 and issued 186,000 finder's warrants (the "Finder's Warrants") to certain qualified arm's length finders. Each Finder's Warrant is exercisable into one Share (a "Finder's Warrant Share") at an exercise price of $0.30 per Finder's Warrant Share on or before October 3, 2025.
The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Vinergy Capital Inc.
Vinergy is an investment issuer, and invests in diversified industries, including technology, healthcare and manufacturing. Investments may include equity, debt, or other securities of both public and private companies and control stake acquisitions. Vinergy will focus on significant near-term and midterm high-quality opportunities with strong return potentials while maintaining commitment to governance.
CONTACT:
Vinergy Capital Inc.
Alnoor Nathoo, Chief Executive Officer
Email: investors@vinergycaptital.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including the anticipated completion of the Consolidation and the corporate objectives of the Company. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, and uncertain capital markets. Readers are cautioned that actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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.
SOURCE: Vinergy Capital Inc.
View source version on accesswire.com:
https://www.accesswire.com/789501/vinergy-capital-announces-closing-of-non-brokered-private-placement
