AI Artificial Intelligence Ventures Inc (ESIFF)

[lithiumjr]

Holly !!!

2018-04-13 06:18 ET - News Release


Mr. Sothi Thillairajah reports

BLOCK ONE ANNOUNCES $2,000,000 NON-BROKERED PLACEMENT OFFERING PRICE APPROXIMATELY 40% ABOVE MARKET PRICE

Block One Capital Inc. has arranged a non-brokered placement of two million units at a price of $1 per unit for gross proceeds of $2-million. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each full warrant shall be exercisable to acquire one additional share at a price of $1.50 for a period of two years from the date of closing. In the event that the shares trade at a closing price of greater than $2.50 per share for 10 consecutive trading days, the company may accelerate the expiry date of the warrants to expire on the 30th day after the date on which such notice is given by Block One.

The company intends to use the net proceeds of the offering to finance its continuing investment strategy in the cryptocurrency and blockchain space. The offering is expected to close immediately upon TSX Venture Exchange approval. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

https://www.stockwatch.com/News/Item.aspx?bid=Z-C:BLOK-2593366&symbol=BLOK®ion=C