Boardwalktech arranges $1.5-million private placement

Executive Summary

• Boardwalktech Software Corp. announced a non-brokered private placement of up to 42,857,143 units at $0.035 per unit, targeting gross proceeds of up to $1.5 million.
• Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.05 per share for two years.
• Proceeds are intended for general corporate purposes, subject to TSX Venture Exchange approval and standard prospectus exemptions.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 42,857,143 units.
• Subscription Price: 3.5 cents ($0.035) per unit.
• Gross Proceeds: Up to $1.5 million.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: 5 cents ($0.05) per common share.
  • Duration: Two years from the date of issuance.
  • Ratio: One warrant per unit (entitling holder to purchase one common share).
• Use of Proceeds: General corporate purposes.
• Regulatory Status: Subject to approval by the TSX Venture Exchange; issued pursuant to exemptions from prospectus requirements under National Instrument 45-106.
• Hold Period: Four months plus one day from the date of issuance.
• Finder's Fees: The company may pay finders' fees to eligible finders; specific details to be announced later.
• Insider Participation: Insiders may participate; specific details to be announced later.

Notable Quotes

• None provided in the text.