Software technology company VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTCPK:VSBGF) announced a brokered private placement of $1,000 principal amount 10% convertible unsecured debentures for gross proceeds up to $4 million.
Echelon Wealth Partners Inc. will act as the lead agent and sole bookrunner for the offer on a commercially reasonable efforts basis.
The debentures will be offered and sold by private placement in Canada to accredited investors and outside of Canada on a basis that does not require the qualification or registration of any of the shares or warrants comprising the debentures. A limited portion of the offer can also be completed on a non-brokered basis for certain investors located in the United States.
According to the release, VSBLTY Groupe will use net proceeds from the offer for acquisitions and general and corporate working capital purposes.
VSBLTY Groupe Brokered Private Placement Details
As per the offer, each unit consists of one common share in the capital of the company and one share purchase warrant. Each warrant is going to be exercisable into one share for $0.60 per warrant share for a period of 24 months from the closing date, which is subject to acceleration.
VSBLTY Groupe Technologies may exercise its warrant acceleration right if on any ten consecutive trading days, the closing price of the shares on the CSE is greater than $1.00 per share. This can be done on the date that is four months and one day following the closing date. If the company exercises its warrant acceleration right, the warrants’ new expiry date will be the 30th day following the notice of the company exercising its warrant acceleration right.
The debentures will bear interest from the date of issuance at a rate of 10% per annum on an accrual basis, calculated and payable semi-annually, and will mature 24 months after the date of issuance.
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The principal amount of the debentures may be converted, in whole or in part, at any time before the maturity date, into units of VSBLTY Groupe at a price of $0.30 per unit.
VSBLTY Groupe Showcases Digital Display Technology at Two Major European Trade Shows
The news comes just one week after VSBLTY Groupe Technologies announced its participation in not one, but two major trade shows in Europe. On February 11, the company revealed that it would be demonstrating its state-of-the-art digital display technology at the Integrated Systems Europe (ISE) show in Amsterdam and EuroShop in Düsseldorf, Germany.
The ISE, which took place on February 11-14, is a showcase for the industry’s newest technologies. The event attracts over 1,300 exhibitors and is attended by more than 81,000 visitors.
Then from February 16-20, VSBLTY teamed up with Sensormatic Solutions to showcase its SYNERGY™ Loss Prevention Pedestals at EuroShop, the world’s most prominent trade show, with visitors from a whopping 140 countries and exhibitors from 60 countries.
The two companies are also demonstrating retail promotional display content, including headers, vertical banners, shelf strips, and tablets that showcase high-impact advertising, shopper analytics, and context-based security and loss prevention.
Investors who are interested in AI-driven retail and security solutions will want to keep an eye on VSBLTY Groupe Technologies.
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