Toronto, Ontario--(Newsfile Corp. - January 17, 2024) - New World Solutions Inc. (CSE: NEWS) (OTC Pink: REGRF) (FSE: RT5) ("NEWS" or "New World" or the "Company") is pleased to announce a non-brokered private placement financing of up to 50 million units of the Company ("Units") at a price of $0.02 per Unit (the "Private Placement"), for aggregate gross proceeds up to $1,000,000.
Each Unit will consist of one (1) common share of the Company ("Share") and one (1) common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one additional Share of the Company at a price of $0.05 per Share for a period of 3 years from the date of issuance, subject to accelerated expiry if the Company's shares trade at $0.10 for 15 consecutive days.
The gross proceeds of the Private Placement will be used for general working capital.
In connection with the Private Placement, the Company may pay finders' fees equal to up to 8% cash and 8% broker warrants of the aggregate proceeds raised in the private placement.
The Private Placement is expected to close on or about January 31, 2024 and such other dates as the Company may determine.
The closing of the Private Placement is subject to certain standard conditions including, but not limited to, the approval of the Canadian Securities Exchange.
All securities that are issued pursuant to the Private Placement will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws.
About New World
New World Solutions is a technology company focused on providing solutions to new world problems. Through our blockchain and technology experience we are leveraging solutions in the decentralized finance space as well as the electric vehicle area. We look to acquire and launch a balanced spectrum of solutions to become a leader in this dynamic tech landscape.
For additional information on New World and other corporate information, please visit the Company website at https://www.newworldinc.io/.
For further information, please contact:
Paul Haber, C.P.A., C.A., C.Dir
Chief Executive Officer, and Chairman
New World Solutions Inc.
Phone: (416) 318 - 6501
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information in this news release are based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties, and other factors, which may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the risks associated with the blockchain in general. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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