pcNewsWire – kneat.com, inc. (TSX-V: KSI) has closed previously announced non-brokered private placement of 5,000,000 common shares at $0.60 per share for gross proceeds of $3,000,000.
Proceeds will be used to accelerate development of the on-premise and software as a service models of the Kneat Gx platform, increase the awareness of the platform for multiple applications across several life sciences industries and enhance the team needed to support a growing list of customers.
kneat.com, inc. announces the closing of private placement
HALIFAX, May 31, 2017 /CNW/ – kneat.com, inc. (TSXV: KSI) (“Kneat” or the “Company”), developer of the next generation Kneat Gx platform for regulated industries, today closed its previously announced non-brokered private placement for aggregate gross proceeds of $3,000,000 (the “Offering”). The Company issued 5,000,000 common shares at an issue price of $0.60 per share. The common shares issued in connection with the private placement are subject to a fourmonth hold period that will expire on October 1, 2017. Directors of the Company subscribed for an aggregate of 1,175,066 common shares.
The proceeds of the Offering will be used to accelerate development of the on-premise and software as a service models of the Kneat Gx platform, increase the awareness of the platform for multiple applications across several life sciences industries and enhance the team needed to support a growing list of customers.
Kneat, headquartered in Limerick, Ireland, develops and markets the next generation Kneat Gx software platform. Kneat Gx, enables an end-to-end paperless process for all validations, commissioning and qualification, production execution and quality document management. Kneat Gx allows users to electronically create, approve and execute all deliverables, manage any exceptions and post approve final deliverables in a controlled FDA 21 CFR Part 11 compliant platform. Users with correct permissions can see everything in real time. Customer case studies are reporting productivity improvements in excess of 100% and a higher compliance standard. www.kneat.com.
Neither the 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.
For further information: Sarah Oliver, CFO, kneat.com, inc., 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7, T: +353 61 203826, E: firstname.lastname@example.org