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AMPD Ventures Announces Proposed $1.0 Million Private Placement Financing
Monday, August 8, 2022Company Profile | Follow Company
Vancouver, BC, August 8, 2022--(T-Net)--AMPD Ventures Inc. (CSE: AMPD, OTCQB: AMPDF) announced today that it will undertake a private placement financing through which the Company is expected to issue and sell up to 7,142,858 units at a price of CAN$0.14 per Unit for aggregate proceeds up to CAN$1,000,000.
The Company intends to use the proceeds from the Private Placement for the deployment of AMPD infrastructure in additional geographic locations, to increase headcount, and for general working capital purposes.
The Private Placement is subject to regulatory approval and all securities issued will be subject to a four-month hold period.
About AMPD Ventures Inc.
AMPD specializes in providing high performance cloud and compute solutions for low latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis, and visualization.
Each Unit will be 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 18 months following the date of the closing of the Private Placement.
As part of this transaction, the Company may enter into finder's fee agreements with certain finders, paying to such finders up to 7% of the portion of the private placement raised via finders in cash and warrants, or in shares.
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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