VANCOUVER, B.C., October 19, 2022 – Datable Technology Corporation (TSX-V: 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.
For further information, please contact:
Datable Technology Corp.
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.