VANCOUVER, B.C. / TheNewswire / June 10th 2019 - YDX Innovation Corp (TSX-V: YDX, OTC: YDRMF, FSE: A2PB03) ("YDX" or the "Company") announces today that, further to its news release dated April 17, 2019, it has closed its non-brokered private placement (the "Financing") consisting of 7,376,934 units (each, a "Unit") at a price of $0.13 per Unit, for gross proceeds of $959,001. Each Unit consists of one common share (a "Unit Share") and one transferable share purchase warrant (a "Warrant"), each Warrant being exercisable into one common share (a "Warrant Share') at $0.20 for a period of three years. The Warrants are subject to an acceleration clause in the event the Common Shares trade on the TSX Venture Exchange (the "Exchange") at a price of $0.50 or more for 30 consecutive trading days at any time after the date of issuance of the Warrants, the Issuer will have the right by providing notice to the warrant holders, to accelerate the expiry date of the Warrants to a date which is 10 business days from the date of notice.
"We appreciate the trust of all of those who participated. This financing will support the development of key content for the growth of Arkave VR, including the new experience being created with Disney that will be deployed during the 3rd Quarter of 2019. It will also allow the Company to have stronger marketing and sales effort to help accelerate sales of Arkave VR and Game On Festival," stated Daniel Japiassu, CEO of YDX Innovation.
In connection with this Financing a finder's fee of $15,960 in cash and 122,770 Finder's Warrants were issued with the same terms as the Warrants in the Financing.
All securities issued in connection with the Financing are subject to a statutory hold period expiring four months and one day after closing of the Financing.
About YDX Innovation
YDX Innovation Corp. (TSXV- YDX :: www.ydxinnovation.com ) is a technology company that develops products and services and is an expert in immersive technologies like Augmented and Virtual Reality, eSports events and Interactive Exhibitions.
Currently three divisions are part of the YDX Family:
Arkave VR Arena - www.arkavevr.com - a gaming platform that brings the most immersive Virtual Reality experience to Location Based venues with a highly scalable business model.
Arkave VR has five Arenas in the United States, a flagship store being built in Canada and is being sold through a network of distributors that will focus on the thousands of Family Entertainment Centre's throughout North America, in constant search for innovative attractions.
YDreams Global - www.ydreamsglobal.com - have developed over 1,300 interactive experiences for clients all over the world such as Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes Benz, Coca-Cola, Santander, AmBev, Qualcomm, Unilever, City of Rio and Fiat.
Game On Festival - www.gameonfestival.com - is a new event under development by the Company that combines eSports Tournaments with a large Interactive Exhibition about the videogame industry and its history.
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.
This communication contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding our current and future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations as well as a list of risk factors that we deem relevant are disclosed in the documents we file from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on our current assumptions, estimates and opinions and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. We do not undertake any obligation to update forward-looking statements should our assumptions, estimates or opinions change, other than as required by law and readers are advised not to place undue reliance on forward-looking statements.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.