Vancouver, British Columbia--(Newsfile Corp. - July 17, 2017) - Hello Pal International Inc. (CSE: HP) (FSE: 27H) (OTC Pink: HLLPF) ("Hello Pal" or the "Company"), announces that it has amended the terms of its previously announced non-brokered private placement (see news release dated January 19, 2017). The non-brokered private placement will now consist of 6,666,667 units at a price of $0.15 per unit for gross proceeds of $1,000,000 (the "Offering").
Each unit will consist of one common share of Hello Pal and one share purchase warrant, with each share purchase warrant entitling the holder to purchase one additional common share of Hello Pal at a price of $0.20 per share for a period of two years from the date of issuance.
Proceeds of the Offering will be used for developments to the Hello Pal Platform and general corporate purposes.
Hello Pal will also consider a non-brokered over-allotment of up to 2,000,000 units at a price of $0.15 per unit for gross proceeds of $300,000.
For information with respect to the Company or the contents of this news release, please contact Ryan Johnson, Corporate Development at (604) 683-0911 or visit the website at www.hellopal.com. Email inquiries can be directed to: investors@hellopal.com
About Hello Pal International
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, travel and language learning. Hello Pal has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world, and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Hello Pal was the first app released to the public and experienced rapid growth building a diverse and active global user base. Travel Pal is the first companion app to launch and benefits from this broad-based group of users. Each new app will launch with this established rapidly growing user base accelerating their adoption.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such factors include, among other things: Hello Pal's limited operating history, obtaining regulatory approvals and those risks and uncertainties described in Hello Pal's Listing Statement dated May 10, 2016 available on www.cnsx.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
