ATW Tech Announces Upsize of Private Placement of Common Shares
Montreal – (TheNewswire) – June 14, 2021 – ATW Tech Inc. (the “Company” or “ATW Tech“) (TSXV:ATW) is pleased to announce that, due to over subscription, it has increased its previously announced private placement (the “Private Placement“) to 8,692,306 common shares of the Company (the “Shares“) at a price of $0.065 per Share for a gross proceeds of $565,000. The closing of the Private Placement is expected to occur on or about June 15th, 2021.
As previously stated in the press release dated June 11, 2021, the proceeds of the Private Placement will be used by ATW Tech, for its own benefit and that of its subsidiaries, in order to finance current operations and to repay the Company’s short term debt.
The Shares issued pursuant to the Private Placement shall be subject to a period of restricted trading of four months, in accordance with the applicable securities legislation. In addition, the Private Placement is subject to the approval of the TSX Venture Exchange. Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ABOUT ATW TECH
ATW Tech (TSX-V: ATW) is a technology company, owner of several recognized technology platforms such as VoxTel, Option.vote, Bloomed and Semeon. VoxTel specializes in telephone billing and alternative payment solutions for fixed and mobile lines. Option.vote offers a customized multi-method voting system for unions, political parties, professional associations and anyone looking for a secure way to reduce their voting costs and improve their participation rate. Bloomed is a cloud computing platform for managing smart data on consumers and their behaviors for both business and consumer-oriented campaigns. Semeon is a highly accurate and flexible text analysis platform for customer reviews. Semeon uses a unique combination of machine learning and Natural Language Processing (NLP) to discover significant trends in customer reviews across all channels.
Forward-Looking Statements and Disclaimer
Certain statements in this press release may be forward-looking. These statements include those relating to the Private Placement and the use of the proceeds raised in connection with said Private Placement. Although the Company believes that such forward‑looking statements reflect expectations based on reasonable assumptions, it cannot guarantee that its expectations will be realized. These assumptions, which may prove to be inaccurate, include, but are not limited to, the following: (i) the intended use of the proceeds of the Private Placement; and (ii) ATW Tech’s officers will not set or achieve any other strategic objectives using the proceeds of the Private Placement. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do, the benefits that ATW Tech will derive therefrom. In particular, no assurance can be given as to the future financial performance of ATW Tech. ATW Tech disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event. The reader is warned against undue reliance on these forward-looking statements.
Additional information regarding ATW Tech is available on SEDAR www.sedar.com
ATW Tech Inc.