Darelle Online Solutions announces $750K financing

pcNewsWireDarelle Online Solutions Inc. (TSX-V: DAR) intends to complete a non-brokered private placement for gross proceeds of up $750,000.

News Release


Vancouver, B.C. – June 7, 2017 – Darelle Online Solutions Inc. (“darelle” and/or the “Company”) (TSXV: “DAR”) today provided financial guidance for the 2017 and 2018 fiscal years.

The Company estimates that it will generate revenue in the range of $50,000 to $70,000 for the August 31, 2017 fiscal year. The Company launched the darelle Online Raffle Program in April 2016 in the province of British Columbia. Since the initial launch, the Company has engaged with nineteen (19) organization in B.C and will launch over thirty (35) online raffle and/or 50/50 lottery draws.

The Company estimates that it will generate revenue in the range of $350,000 or more for the 2018 fiscal year. The Company will continue to offer its platform in the province of B.C. with geographical expansion into Ontario, Manitoba, Saskatchewan, and Nova Scotia in the coming 12 months.

“The launch of the darelle Online Raffle Program in April of 2016 was the first of its kind in the Province of B.C.”, says Dean Bethune, President of Darelle Online Solutions Inc. “Feedback from organizations, industry participants and regulators is positive and we look to building on this momentum with expansion into additional provinces.”

The Company has not generated profitable operations as of yet and is not forecast to achieve this in the near future as platform expansion both in terms of product releases and geographical expansion will necessitate a commitment of resources beyond that generated by cash flow from operations.

Private Placement

The Company announced its intent to complete a non-brokered private placement (“Placement”) of up $750,000.

Proceeds from the Placement will be used as follows:
• To fund provincial registration and certification in the provinces of Ontario,
Manitoba, Saskatchewan, and Nova Scotia, approximately $30,000;
• To fund ongoing operations of the Company’s wholly owned subsidiary, Darelle
Media Inc., approximately $450,000;
• Opening of an office in Nanaimo, B.C., approximately $20,000;
• For professional fees and trade payables owing, approximately $145,000;
• Filing fees and cost of placement, approximately $55,000;
• To maintain the Company’s present operations and cover general and
administrative expenses, approximately $50,000.

Terms of the Placement including pricing is to be determined and is subject to approval of the TSX Venture Exchange.

The Company also announced it will be presenting at the MicroCap Conference in Toronto, Ontario on June 27, 2017. The conference is being held at the Sheraton Centre Hotel. The Company’s presentation will be available for viewing on the Company’s website on June 27 at www.darelle.com

The Company will also host a webinar presentation on Thursday June 29, 17 at 1:30 pm and 6:00 pm Pacific Standard Time. To attend the webinar please forward your contact details to webinar@darelle.com

About Darelle Online Solutions Inc.

Darelle Online Solutions Inc. is a British Columbia corporation with its head office in Vancouver, British Columbia. Darelle.com is an online marketplace, which has developed a platform in which charitable and nonprofit organizations can create, sell, deliver and manage their raffle ticket and 50/50 draws completely online. The Company is listed on the TSX Venture Exchange as a Tier 2 Technology Issuer. The Company has a total of 69,408,147 common shares issued and outstanding.

Additional information on the company can be found at www.darelle.com

For Further Information, Contact:

Dean Bethune Kyle Kotapski
President & CEO President, Darelle Media Inc.
Phone (778) 840-3325 Phone (604) 345-0868
Email: dbethune@darelle.com Email: kkotapski@darelle.com