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AMPD Ventures Announces Closing of $1.2 Million Second Tranche of Private Placement Financing
Wednesday, December 7, 2022Company Profile | Follow Company
Vancouver, BC, December 7, 2022--(T-Net)--AMPD Ventures Inc. (CSE: AMPD) (OTCQB: AMPDF), a next-generation digital infrastructure provider, announced that it has closed its second tranche of the Company's non-brokered private placement financing.
In conjunction with this second closing, the Company issued an additional 8,491,016 Units at a price of CAN$0.14 per Unit for gross proceeds of $1,188,742.
Each Unit is comprised of one common share of the Company and one common share purchase warrant, with each Unit Warrant entitling the holder to subscribe for one Common Share in the capital of the Corporation at an exercise price of CAN$0.20 per Warrant Share for a period of 24 months following the date of the closing of the Private Placement.
To accommodate requests from subscribers, AMPD is closing this second tranche but will continue to accept investments up to $2,000,0000 and extend their closing date to mid-December. To date, AMPD says it has closed a total of $1,560,742 on these first two tranches.
Anthony Brown, CEO, AMPD Ventures Inc.
Anthony Brown, CEO commented, "we are pleased to have closed over three-quarters of our financing now. With many new investors, several from Europe, it has been great to see the growth of a broader global investor group participating in this round. The interest has been solid, especially when considering the markets, we are all traversing".
In connection with the Private Placement, the Company paid certain finders CAN$71,505 in cash, and 510,751 Unit Warrants as finder's fees.
All securities issued under the private placement are subject to a four-month and one-day hold period, and completion of the financing is subject to conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange ("CSE").
The Company intends to use the proceeds from the private placement to deploy AMPD infrastructure, increase headcount, and for general working capital purposes.
About AMPD Ventures Inc.
AMPD Ventures Inc. ("AMPD") is building the world's best suite of tools and technologies for digital content creation and distribution. Through its operating subsidiaries, AMPD Technologies and Departure Lounge, AMPD is advancing the way we create and consume content. By combining the power of the high-performance edge approach to cloud computing with world-leading media production technologies, AMPD enables companies to enter the next era of the internet. The team at AMPD has been leading technological developments within the games and digital media industries for nearly twenty years. AMPD was listed as a public company in 2019. Additional information about the company is available on SEDAR and on our website at http://www.ampd.tech.
For further information about AMPD Ventures Inc., please visit http://www.ampd.tech or contact Neil Simon, CEO, Investor Cubed Inc., Telephone: +1 (647) 258-3310, Email: nsimon@investor3.ca.
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Forward Looking Statements This news release contains statements and information that constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of our management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances and at the date that such statements are made, but which may prove to be incorrect. Forward looking information in this news release includes statements about management's intended use of the proceeds of the Private Placement, and management's ability to complete the Acquisition, and management's plans to accelerate the rollout of AMPD's High-Performance Edge computing environments around the world, and any other statements that are not statements of historical fact. [ MORE ] |
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