Carrier Connect increases private placement to $4M

Executive Summary

• Carrier Connect Data Solutions Inc. is upsizing its previously announced non-brokered private placement due to strong investor interest.
• The company will offer up to 5,714,285 units at 70 cents per unit, raising aggregate gross proceeds of up to $4 million.
• Proceeds are designated for merger-and-acquisition transactions, working capital, and general corporate purposes.

Key Details

• Offering Size: Up to 5,714,285 units.
• Price: 70 cents per unit.
• Gross Proceeds: Up to $4 million.
• Unit Composition: Each unit consists of one common share and one-half of one transferable share purchase warrant.
• Warrant Terms: Each full warrant entitles the holder to acquire one additional common share at an exercise price of $1 per share.
• Warrant Expiry: Two years from the date of issuance.
• Use of Proceeds: Merger-and-acquisition transactions, working capital, and general corporate purposes.
• Finder’s Fees: The company will pay finders' fees to eligible third parties who introduced subscribers to the offering.
• Resale Restrictions: All securities are subject to a four-month and one-day hold period in accordance with applicable securities laws.
• Regulatory Approval: Completion is subject to approval by the TSX Venture Exchange.