/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
CALGARY, Sept. 6, 2017 /CNW/ - Trakopolis IoT Corp.
("Trakopolis" or the "Company") (TSX VENTURE: TRAK)
is pleased to announce that it has completed its previously
announced brokered private placement (the "Offering"),
selling an aggregate of 2,249,988 units at a price of $0.90 per Unit (the "Units") raising gross
proceeds to the Company of approximately $2,025,000. The Offering was led by Canaccord
Genuity Corp. ("Canaccord"), on behalf of a syndicate of
agents including Haywood Securities Inc. and Echelon Wealth
Partners Inc.
Each Unit consists of one common share (a "Common Share")
and one-half of one Common Share purchase warrant (each whole
Common Share purchase warrant, a "Warrant"). Each Warrant is
exercisable for one Common Share for a period of two years from the
closing date of the Offering at an exercise price of $1.20 per Common Share.
The net proceeds of the Offering will be used for expansion,
business development activities and general working capital and
corporate purposes.
In connection with the Offering the Agents received a cash
commission equal to 7.0% of the gross proceeds received by the
Corporation from the Offering and agents' warrants (the "Agents'
Warrants") equal to 7.0% of the Units sold pursuant to the
Offering, other than with respect to subscribers identified to the
Agents by the Corporation, where the cash commission and Agents'
Warrants were reduced to 3.5%, respectively, and certain
subscription proceeds with respect to which no commission or
Agents' Warrants were applicable. Additionally, Canaccord received
a cash fee equal to $35,500 and
19,444 Common Shares at Closing. Each Agent's Warrant entitles the
holder to acquire one additional Common Share at a price of
$0.90 per Common Share for a period
of 24 months from the closing date.
The Common Shares, Warrants and Agents' Warrants issuable
pursuant to the Offering are subject to a statutory four-month hold
period which expires on January 7,
2018.
This press release shall not constitute an offer to sell or
solicitation of an offer to buy the securities in any jurisdiction.
The securities will not be and have not been registered under the
United States Securities Act of 1933, as amended, and may not be
offered or sold in the United
States absent registration or applicable exemption from the
registration requirements.
About Trakopolis
Trakopolis is a Software as a Service
(SaaS) company with proprietary, cloud-based solutions for
real-time tracking, data analysis and management of corporate
assets such as equipment, devices, vehicles and workers. The
Company's asset management platform works across a variety of
networks and devices. Trakopolis has a diversified revenue stream
from many verticals including oil and gas, forestry,
transportation, construction, rentals, urban services, mining,
government and others.
Disclaimer for Forward-Looking Information
Certain information set forth in this news release may
contain forward-looking statements that involve substantial known
and unknown risks and uncertainties, certain of which are beyond
the control of Trakopolis. Forward-looking statements are
frequently characterized by words such as "plan", "continue",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "potential", "proposed" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements in this press release include the
anticipated use of proceeds of the Offering. Forward-looking
statements are necessarily based on a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties and other factors which may cause
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: general business, economic
and social uncertainties; litigation, legislative, environmental
and other judicial, regulatory, political and competitive
developments; a determination by the Company to use the proceeds in
a manner different than disclosed herein; those additional risks
set out in the Company's public documents filed on SEDAR at
www.sedar.com. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. Except where required by
law, the Company disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
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.
SOURCE Trakopolis IoT Corp.