Vancouver, B.C. / August 29, 2024 / Datable Technology Corp. (the “Company” or “Datable”) (TSXV: DAC) (OTC Pink: TTMZF) is pleased to announce it has applied to partially revoke the cease trade order (the “CTO”) issued against the Company by the British Columbia Securities Commission (the “BCSC”) on July 3, 2024. The CTO was issued due to the Company’s failure to file certain financial disclosure documents in compliance with National Instrument – 51-102 Continuous Disclosure Obligations.
If the BCSC partially revokes the CTO, the Company intends to complete the non- brokered private placement, previously announced on June 20, 2024, for aggregate gross proceeds of up to $1,000,000 (the “Private Placement”), for an offering of up to 20,000,000 common shares (the “Shares”) at the subscription price of $0.05 per Share.
The Company intends to use the proceeds of the Private Placement to satisfy pressing accounts payable, prepare and file outstanding continuous disclosure documents with the applicable securities regulators with a view to obtaining a full revocation order, pay the cost of the proposed transaction with Local Marketing Solutions Group, Inc. and to provide the Company with sufficient working capital to continue its operations until it has obtained a full revocation of the CTO.
For further information, please contact:
Datable Technology Corp.
Kim Oishi
Executive Chairman
(416) 804-9228
koishi@3tierlogic.com
Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this news release include, without limitation, statements related to the completion of the Private Placement, the use of proceeds from the Private Placement and the Company’s intention to apply for and obtain a full revocation of the Cease Trade Order. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.