Vancouver, British Columbia, Nov. 05, 2018 (GLOBE NEWSWIRE) -- APPx Group Holdings Inc. (CSE: APPX) ("APPx"), announces that it intends to complete a non-brokered private placement financing (the "Financing") of units (each, a "Unit") for gross proceeds of up to CDN$1,000,000 with a price per Unit of CDN$0.30.
Each Unit will consist of one common share (each a "Share") and one common share purchase warrant (each a "Warrant"), with each Warrant exercisable to acquire one additional Share (each a "Warrant Share") at a price of CDN$0.50 per Warrant Share for a period of 12 months following the closing date of the Financing ("Closing Date").
APPx intends to pay finder’s fees of up to 7% in cash and 7% in finder's warrants in connection with the Financing. Proceeds from the Financing are expected to be used for ongoing working capital requirements relating to the development and commercialization of the APPx technology platforms.
Completion of the Financing is anticipated to occur on or about November 8, 2018 and will be subject to prior acceptance by the Canadian Securities Exchange. All securities issued pursuant to the Financing will be subject to a hold period of four months as required under applicable securities legislation.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About APPx Group Holdings Inc.:
APPx Group is a fintech incubator that offers technology-based business solutions. Our expansive partnership network allows us to cover a range of offerings: blockchain, crypto, fintech, and telecommunications products and services. With our strong reach, we’re consistently adding to and enhancing our portfolio. We strive to be industry leaders, creating innovations that have been engineered from the ground up by our diverse culture of talent.
APPx Group delivers sustained value by strategically solving our customers’ immediate and long-term needs, helping them reach their goals on a global scale.
Forward-looking Statements:
Statements in this press release regarding APPx's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as the closing of the Financing, APPx’s prospective listing on the CSE, its prospective business, and the prospective development and commercialization of its CatchCoinTM application. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Except as required by law, APPx disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, APPx undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.