pcNewsWire – Ackroo Inc. (TSX-V: AKR; OTCPK: AKRFF), a gift card, loyalty and rewards technology and services provider, intends to close a non-brokered private placement up to 6,250,000 units at $0.08 per unit for gross proceeds of up to $500,000.
Proceeds will be used for additional working capital needed to continue funding of sales initiatives and ongoing improvements to the software platform and product offerings utilized by Ackroo merchants.
Ackroo to Raise $500,000 in Private Placement
Additional capital to fund sales initiatives and ongoing technology development
OTTAWA, ONTARIO – June 13th, 2017 – Ackroo Inc. (the “Company” or “Ackroo”) (TSX-V: AKR) (OTC: AKRFF), a gift card, loyalty and rewards technology and services provider, announces that it will conduct a non-brokered private placement in which it will raise up to $500,000. The private placement will provide the Company with the additional working capital needed to continue funding of sales initiatives and ongoing improvements to the software platform and product offerings utilized by Ackroo merchants.
In connection with the private placement, the Company will issue up to 6,250,000 units (each, a “Unit”) at a price of $0.08 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant, entitling the holder to purchase one additional common share of the Company (a “Warrant Share”) at a price of $0.12 per Warrant Share for a period of twelve (12) months from the date of the issuance. The warrants are subject to accelerated expiry in the event the closing price of the Company’s shares is $0.15 or more for 10 consecutive trading days. The Company expects to pay a finder’s fee to certain eligible persons who have introduced qualified investors to the Company.
The private placement will be completed pursuant to available exemptions from prospectus requirements under applicable securities laws. All securities issued under the private placement will be subject to a statutory hold period ending four months and one day after issuance. Completion of the private placement remains subject to the approval of the TSX Venture Exchange.
Ackroo provides gift card and loyalty processing solutions to help retail and hospitality merchants attract, retain and grow their customers and their revenues. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card & loyalty transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution.
Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com. ### For further information, please contact:
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
The TSX Venture Exchange 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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.