Vancouver, British Columbia–(Newsfile Corp. – September 26, 2019) – NetCents Technology Inc.[1] (CSE:NC) (OTCQB:NTTCF) (Frankfurt: 26N[2]) (“NetCents” or the “Company”) today announced the closing of a non-brokered private placement financing (the “Financing“) of 500,000 units of the Company (each, a “Unit“) at a price of CDN$0.45 per Unit, with each Unit being comprised of one common share of the Company (a “Common Share“) and one Common Share purchase warrant (each whole warrant, a “Warrant”), for total gross proceeds of CDN $225,000. Each Warrant is exercisable for one additional Common Share of the Company (each, a “Warrant Share“) at an exercise price of $0.55 per Warrant Share for a period of five (5) years.
The Common Shares and Warrants issued under the Financing, and the Warrant Shares issuable upon exercise of the Warrants, are subject to a hold period that expires on January 25, 2020.
The proceeds of the Financing are for the Company’s general working capital. In connection with the Offering, the Company may pay finder’s fees.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
