News Release
Eight Solutions Announces Non-Brokered Private Placement
Vancouver, BC, November 23, 2017 — Eight Solutions Inc. (TSXV:ES) (“Eight Solutions” or the “Company”) announces the closing of its non-brokered private placement offering (the “Offering”) of 520,593 units (each a “Unit”) at a price of $0.07 per Unit for a total gross proceeds of $36,442.
The details of the private placement are as follows: each Unit is comprised of one common share in the capital of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share (each, a “Warrant Share”) at a price of $0.15 per Warrant Share for a period of 36 months following the closing date. The Warrants are subject to an acceleration clause wherein, in the event the Company’s Shares trade at a price greater than $1.00 per Share for a period of at least 30 consecutive trading days, the Company may accelerate the expiry date of the Warrants with reasonable written notice.
All securities are subject to a 4 month hold period. Net proceeds are intended to be used for working capital purposes, including software development, marketing, corporate development and general corporate purposes within the Company. No finders fees were paid in connection with the Offering.
About Eight Solutions
Eight Solutions is a technology company led by a team of video game industry veterans. Eight Solutions’ flagship product is Cumul8, a data analytics and visualization solution. Cumul8 works with any type of data source to help people and companies understand, collaborate, and make better decisions with data.
Eight Solutions’ portfolio includes an award-winning 3D software technology licensed to the film industry; and Reelhouse, a unique video-on-demand platform that allows filmmakers to distribute their content directly to users. For more information, visit www.eightsolutions.com
On Behalf of the Board of Directors
(signed) “Rory Armes”
Rory Armes
Chief Executive Officer, President and Director
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.
