/NOT FOR
DISSEMINATION IN THE US OR THROUGH US NEWSWIRE
SERVICES/
VANCOUVER, BC, Oct. 19,
2022 /CNW/ - Datable Technology Corporation
(TSXV: DAC) ("Datable" or
the "Company") is pleased to announce that the
further to its news releases dated June 20,
2022, August 9, 2022 and
August 19, 2022, it has now completed
its non-brokered private placement which consisted of 18,500,000
units of the Company (the "Units") at a price of
$0.02 per Unit for gross proceeds of
approximately $370,000 (the
"Offering") and will not be closing any additional tranches
of the Offering.
Each Unit consisted of one common share in the capital of the
Company (each, a "Share") plus one Share purchase warrant
(each, a "Warrant"). Each Warrant entitles the holder
to purchase one additional Share at a price of $0.05 for a period of two years from the closing
of the Offering.
All securities issued in connection with the second tranche of
the Offering will be subject to a statutory hold period of four
months plus a day from the date of issuance in accordance with
applicable securities legislation.
New Private Placement
The Company is pleased to announce that, it is proceeding with a
non-brokered private placement (the "New Offering") of up to
59,140,456 units (the "New Offering Units") at a
price of $0.02 per New Offering Unit
for gross proceeds of up to $1,182,809.12. The net proceeds from the
New Offering will be used for general working capital and expenses
pursuant to the acquisition of 100% ownership of Local Marketing
Solutions Group, Inc. ("LMSG"). Datable and LMSG are
conducting mutual due diligence and are concurrently drafting a
definitive agreement consistent with the terms set out in the
Company's press release dated September 30,
2022.
Each New Offering Unit will consist of one common share in the
capital of the Company (each, an "New Offering
Share") plus one common share purchase warrant (each, a
"New Offering Warrant"). Each New Offering
Warrant will entitle the holder to purchase one additional New
Offering Share at a price of $0.05
for a period of two years from the closing of the New Offering.
All securities issued in connection with the New Offering will
be subject to a statutory hold period of four months plus a day
from the date of issuance in accordance with applicable securities
legislation.
Closing of the New Offering is subject to a number of
conditions, including receipt of all necessary corporate and
regulatory approvals, including the TSX Venture Exchange.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described in
this news release in the United
States. Such 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, accordingly, may not be offered or sold within the United States, or to or for the account or
benefit of persons in the United
States or "U.S. Persons", as such term is defined in
Regulation S promulgated under the U.S. Securities Act, unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
About Datable Technology
Corporation
Datable has developed PLATFORM3 a
proprietary Consumer Lifecycle and Data Management Platform that is
sold to global consumer brands.
PLATFORM3 is delivered as a
subscription service (Software as a Service model) and used by some
of the worlds' most valuable consumer brands to access new consumer
communities and engage them while collecting, analyzing, and
managing their first-party data.
PLATFORM3 incorporates
proprietary technology to monetize the consumer data, including
demographics and purchasing behaviour, by sending consumers
targeted offers by email and text messages. For more
information, visit datablecorp.com.
For additional information about the company please visit
www.sedar.com. The TSX Venture Exchange Inc. has in no way passed
upon the merits of the transaction and has neither approved nor
disapproved the contents of this press release. 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
news release contains forward-looking information, which involves
known and unknown risks, uncertainties and other factors that may
cause actual events to differ materially from current expectation.
Important factors – including the availability of funds and the
results of financing efforts, – that could cause actual results to
differ materially from the Company's expectations are disclosed in
the Company's documents filed from time to time on SEDAR (see
www.sedar.com). Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date of this press release. The Company disclaims any intention or
obligation, except to the extent required by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE Datable Technology Corp.