News Release
TSX Venture: KBY
Kona Bay Technologies Closes Private Placement
November 27, 2017, Vancouver, British Columbia — Kona Bay Technologies Inc. (the “Company”) announces it has closed its previously announced private placement by issuing a total of 775,000 units (the “Units”) at a price of $0.12 per Share for gross proceeds of $93,000. Each Unit is comprised of one common share of the Company and one share purchase warrant (each a “Warrant”), with each Warrant entitling the holder to purchase an additional common share of the Company at a price of $0.16 per share for a period of 60 months from the date of issue.
Directors and officers of the Company purchased 600,000 Units under the private placement. The securities issued under the private placement financing will be subject to restrictions on resale until March 28, 2018. The Company intends to use the gross proceeds of the private placement for general working capital.
Kona Bay Technologies Inc.
Kona Bay Technologies Inc. is a global provider of Online Customer Acquisition software and services. We acquire, manage, and build Online Customer Acquisition businesses that address the specific client acquisition needs of our customers in particular vertical markets. For further information, please contact Vincent Wong, President of the Company at investor.relations@konabaytech.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
