Kelowna, British Columbia--(Newsfile Corp. - June 16, 2023) - Gallagher Security Corp. (CSE: GLL) announces that, subject to Canadian Securities Exchange ("CSE") approval, the Company will raise up to $500,000 through a non-brokered private placement. The financing will consist of of up to 10,000,000 units at $0.05 per unit.
Each unit will consist of one common share and one share purchase warrant with each warrant exercisable into one additional common share at a price of $0.06 per share for a 3-year period. All shares issued under the private placement will be subject to a hold period of four months and one day from the date of issuance. Finders' fees may be paid in accordance with securities regulations. Certain Common Shares may be issued separate from Units for the settlement of bona fide debt owed by the Company.
Gallagher's will use the proceeds targeting generative AI technologies related to the remote monitoring and validation of carbon offsets derived from improved forest management practices. Building the world's first SMART forests.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dev Randhawa"
Dev Randhawa
President and Director
For further information, please contact:
Jamie Bannerman
Phone: 1-778-484-8028
This Press Release may contain statements which constitute 'forward-looking' statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management's Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/170409
