https://www.newswire.ca/news-releases/martello-technologies-announces-pricing-of-overnight-marketed-public-offering-827919885.html
OTTAWA, Sept. 13, 2019 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO) is pleased to announce that in connection with its previously announced overnight marketed offering, it has priced its public offering of common shares of the Company (the "Common Shares"). The Company has agreed with a syndicate of underwriters co-led by Canaccord Genuity and CIBC Capital Markets and including PI Financial Corp. (collectively, the "Underwriters"), to sell 13,333,333 Common Shares at a price of $0.30 per Common Share for aggregate gross proceeds of $4,000,000 (the "Offering").
Martello will file an amended and restated preliminary short form prospectus with the securities commission in each of the provinces of Ontario, British Columbia and Alberta, amending and restating the preliminary short form prospectus filed on September 12, 2019, to reflect the terms of the Offering.
The Company have granted the Underwriters an option (the "Over-Allotment Option") to purchase up to an additional 1,999,999 Common Shares, exercisable in whole or in part at any time up to 30 days after and including the closing date of the Offering.
The Company intends to use the net proceeds of the Offering to identify and fund acquisitions, accelerate R&D activities, increase sales capacity and for general corporate purposes.
The Offering is scheduled to close on or about September 27, 2019 and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the "TSXV") and the applicable securities regulatory authorities.
Recent MTLO News
- Martello Reports Financial Results for the First Quarter of the 2025 Fiscal Year • PR Newswire (Canada) • 08/15/2024 11:05:00 PM
- Martello Announces Stock Option Grant • PR Newswire (Canada) • 06/27/2024 09:00:00 PM
- Martello Launches Industry's First Experience Management Solution for Copilot for Microsoft 365 • PR Newswire (Canada) • 06/26/2024 02:00:00 PM
- Martello Reports Financial Results for the Fourth Quarter and 2024 Fiscal Year • PR Newswire (Canada) • 06/20/2024 10:47:00 PM
- Mike Galvin Resigns from Martello Board of Directors • PR Newswire (Canada) • 06/03/2024 09:00:00 PM
- Martello Announces Closing of Private Placement Totalling CAD$1.5M • PR Newswire (Canada) • 03/27/2024 09:00:00 PM
- Martello Announces CEO and Board Appointments • PR Newswire (Canada) • 03/26/2024 12:00:00 PM
- Martello Announces CAD$1.5M Private Placement • PR Newswire (Canada) • 03/19/2024 10:00:00 PM
- Martello Joins Forces with Yorktel to Bring Vantage DX to Microsoft Teams Managed Service • PR Newswire (Canada) • 02/28/2024 03:00:00 PM
- Martello Reports Financial Results for the Third Quarter of the 2024 Fiscal Year • PR Newswire (Canada) • 02/14/2024 11:48:00 PM
- Martello Announces Stock Option Grant • PR Newswire (Canada) • 12/21/2023 10:00:00 PM
- Martello Announces Closing of Private Placement Totalling CAD$1.75M • PR Newswire (Canada) • 12/14/2023 10:00:00 PM
- Martello Announces CAD$1.75M Private Placement • PR Newswire (Canada) • 12/08/2023 10:22:00 PM
- Martello Reports Financial Results for the Second Quarter of the 2024 Fiscal Year • PR Newswire (Canada) • 11/21/2023 10:55:00 PM
- Martello Announces Departure of Chief Executive Officer • PR Newswire (Canada) • 11/06/2023 01:00:00 PM
- Martello to Announce Financial Results for the Second Quarter of Fiscal 2024 • PR Newswire (Canada) • 10/11/2023 12:00:00 PM
- Martello Board of Directors to Nominate Technology Leader Paul Butcher • PR Newswire (Canada) • 09/21/2023 12:00:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM