Posera Completes $2.4 million Private Placement of Common Shares
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWS WIRE SERVICES/
TORONTO, Aug. 4, 2017 /CNW/ – Loudon Owen, Executive Chairman of Posera Ltd. (“Posera” or the “Company”), is pleased to report that Posera has closed a non-brokered private placement of common shares (“Common Shares”). Under the private placement, the Company issued a total of 19,932,426 Common Shares at a price of $0.12 per Common Share (the “Offering”) for gross proceeds of $2,391,891. Posera paid finder’s fees in the aggregate amount of $35,729 in connection with certain subscriptions for Common Shares, representing 6.0% of the gross proceeds of such subscriptions. A further tranche of up to 3,750,000 Common Shares is expected to close in the following week.
Certain Common Shares issued in connection with the Offering are subject to a 4-month hold period which expires on December 5, 2017.
The proceeds from the Offering are being used to increase the working capital of the Company. The Common Shares have been conditionally approved for listing on the Toronto Stock Exchange (“TSX”).
The Common Shares are listed on the TSX under the symbol “PAY”.
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera’s full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table (“PATT”) application. Posera’s Maitre’D™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera’s solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities laws and may not be offered or sold within the United States to U.S. Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
More information about Posera can be found on the Company’s website at www.posera.com or under the Company’s profile on SEDAR at www.sedar.com.
SOURCE Posera Ltd.