360 Capital Financial Announces Private Placement Financing and Appointment of Interim President
Vancouver, BC, July 18, 2017 – 360 Capital Financial Services Group Inc. (“360” or the “Company”) (CSE: TSZ, www.360capital.ca), announces that it has undertaken a non-brokered private placement of 25,000,000 units of the Company (“Units”) at a price of $0.04 per Unit for aggregate gross proceeds of $1,000,000 (the “Private Placement”). Subject to regulatory approvals, directors and officers of the Company are expected to subscribe for a portion of the Private Placement.
Each Unit is comprised of one common share in the capital of 360 (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant will be exercisable for one Common Share at a price of $0.05 per share for a period of 36 months from the date of closing of the Private Placement. The securities issued pursuant to the Private Placement will be subject to a four month hold period. The transaction is subject to the submission of final documentation and final approval of the Canadian Securities Exchange. The Company will pay qualified finders a commission of 8% in cash and finder’s warrants. The proceeds of the Private Placement will be used for general corporate purposes including funding its current operations and supporting ongoing investigations of potential business opportunities.
The Company will complete a portion of the Private Placement pursuant to the conditions described in Multilateral CSA Notice 45-318 Prospectus Exemption for Certain Distributions through an Investment Dealer (“CSA 45-318”) and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions (collectively with CSA 45-318, the “Investment Dealer Exemption”). In addition to conducting the Private Placement pursuant to the Investment Dealer Exemption, the Company will also accept subscriptions for Units where other prospectus exemptions are available, including from accredited investors. In accordance with the Investment Dealer Exemption, the Company advises that, as at the date hereof, there is no material fact or material change in respect of the Company that has not been generally disclosed. The Company further advises that there is no minimum number of Units being offered pursuant to the Private Placement.
In addition, the Company is announcing the resignation of Mr. David Stadnyk as President, CEO and as a director of 360. The Company would like to thank Mr. Stadnyk for his time and involvement with 360. In his place, the board of directors has appointed Mr. George Tsafalas, as interim President, while it seeks to identify potential candidates to replace Mr. Stadnyk.
About 360 Capital Financial Services Group Inc.
360 Capital Financial Services Group (CSE: TSZ, www.360capital.ca), through our subsidiaries and affiliated companies, provides a broad range of financial services to emerging private and public companies. We “Connect Capital to Growth” by providing corporate finance advisory, merchant banking, IPO consulting and business
advisory services for our clients.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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This release is not an offer of securities of the Company for sale in the United States. The Common Shares and Warrants of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the Common Shares and Warrants may not be offered or sold in the United States except pursuant to an applicable exemption from such registration. No public offering of securities is being made in the United States.