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RIWI Corp. Announces Private Placement
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March 13 2017 / TheNewswire / Toronto, ON – RIWI Corp. (CSE: RIW) (the “Company” or “RIWI”) is pleased to announce today that the Company has agreed to a non-brokered private placement of 656,571 units of the Company (“Units”) at a price of CDN$2.45 per Unit with Impala Asset Management, LLC, an investment management firm founded in 2004 by Bob Bishop, former Chief Investment Officer of Soros Fund Management (the “Offering”). Each Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase, for a period of 18 months from the date of issue, one common share of the Company at an exercise price of CDN$3.50 per share. Closing of the Offering is expected to occur on or about March 16, 2017. The gross proceeds from Offering will be CDN$1,608,600. “The use of proceeds will be to service existing and anticipated contracts and to invest in growing sales and business development needs,” said Neil Seeman, RIWI’s Chairman and Chief Executive Officer. The Offering is subject to regulatory approval, including the approval of the Canadian Securities Exchange.
About RIWI
RIWI is a global survey technology company using its proprietary, patented methods to capture a stream of privacy-compliant opinion data in any region of the world. RIWI data and dashboards help global corporations and government agencies predict, monitor and adapt to changing citizen needs, behaviours and attitudes in all countries. For more information, please visit: https://riwi.com/.
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riwi corp. |
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Signed: “Neil Seeman” |
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Neil Seeman, CEO |
Contact: + 1 416 205 9984 Ext. 235/ neil@riwi.com RIWI Office Manager: Ms. Leah Moncada Tel: +1 416 205 9984 Ext. 282 / leah@riwi.com |
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CAUTION REGARDING FORWARD LOOKING INFORMATION: Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Company’s expectations or beliefs regarding future events. In certain cases, forward-looking information can be identified by the use of words such as “intends”, “expected”, "will" or variations of those words. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to general market conditions being conducive to the Offering and RIWI’s most significant requirement for financing being to service existing and anticipated contracts and to invest in growing sales and business development needs. By its very nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward-looking information. Such factors include, but are not limited to, general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated by such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES |
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