HIT Technologies Completes Debt and Equity Financing
VANCOUVER, British Columbia, September 21, 2017 – HIT Technologies Inc. (the “Company”; TSX.V: HIT) is pleased to announce, further to its news release of September 16, 2017, that it has closed its non-brokered private placement of 3,150,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $157,500. Each Unit is comprised of one common share of the Company and one half of one share purchase warrant, with a whole warrant entitling the holder to purchase an additional common share at a price of $0.05 per share subject to acceleration until September 20, 2019. The placement remains subject to final approval of the TSX Venture Exchange.
The Company plans to use the funds from the financing to fund ongoing operations and for general working capital purposes. All securities comprising the Units are subject to a four-month statutory hold period ending on January 21, 2018.
The Company also announces that it has granted an aggregate of 2,200,000 incentive stock options to directors, officers and consultants exercisable at $0.05 for a period of 24 months. The options are subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS OF
HIT TECHNOLOGIES INC.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.