Vancouver, British Columbia--(Newsfile Corp. - October 13, 2023) - Fandifi Technology Corp. (CSE: FDM) (FSE: TQ4) ("Fandifi" or the "Company"), is pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of up to $500,000 through the issuance of approximately 33,333,333 million units ("Units") at a price of $0.015 per Unit (the "Offering").
Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.05 within 24 months of the closing of the Offering (the "Warrant Term"). (The Warrants will be subject to a Warrant Acceleration Right whereby the Company retains the right to accelerate the expiry date of the Warrants issued under the Offering by way of a written notice and press release if the daily volume weighted average trading price of the Common Shares on the CSE is greater than $0.08 per Common Share for the preceding 10 consecutive trading days.
In connection with the Offering, the Company may pay a finders' fee in accordance with the rules and policies of the CSE. Fandifi may close the Offering in one or more tranches. Gross proceeds raised from the Offering will be used for working capital, business development and general corporate purposes. The Company expects the financing to close on or before October 31, 2023.
Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the CSE. None of the securities issued in the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering.
About Fandifi Technology Corp.
Fandifi is a crowd based and system generated prediction fan engagement platform. The Fandifi platform runs on associated neural networks tailor-made for content creators to increase gamification of their content and enable fan engagement within their communities regardless of the form of distribution. Whether Esports, Sports or any type of broadcast or streamed content, Fandifi is revolutionizing the way fans interact with their favourite content. With its innovative features and monetization opportunities, Fandifi is poised to become the go-to platform for content creators looking to engage with their audience and sponsors.
For additional Information:
Investor Relations
David Vinokurov
CEO and President
Email info@fandifi.com
Phone +1 (604) 256 6990
DISCLAIMER:
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond the Company's control. Some of these risks and uncertainties may be described in the Company's corporate filings (posted at www.sedar.com).
The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events. This press release contains forward-looking statements about FANDIFI. Forward-looking statements may be identified by the use of words like "believe," "expect," "anticipate," "estimate," "plan," "consider," "project," and similar references to the future. Forward-looking statements reflect FANDIFI's good-faith evaluation of information available at the time the forward-looking statements were made. These forward-looking statements are subject to a number of risks and uncertainties, and our actual results may differ materially from those projected. Please refer to FANDIFI's annual and quarterly reports filed on SEDAR for a full discussion of those risks and uncertainties we view as most important. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. We undertake no obligation to update or revise forward-looking statements.
SOURCE FANDIFI TECHNOLOGY CORP ###
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