PopReach Corporation Announces Successful Closing of Bought Deal Public Offering of Common Shares
PopReach Corporation (“PopReach” or the “Company“) (TSXV: POPR) (OTCQX: POPRF) announced today that it has completed its previously announced public offering (the “Public Offering“) of common shares of the Company (“Common Shares“) conducted by a syndicate of underwriters led by Beacon Securities Limited (the “Underwriters“) on a bought deal basis. A total of 13,800,000 Common Shares were issued at a price of $1.25 per share for aggregate gross proceeds of $17,250,000, which includes the full exercise of the over- allotment option granted to the Underwriters to purchase up to an additional 1,800,000 Common Shares.
PopReach intends to use the net proceeds from the Public Offering for acquisitions, working capital and general corporate purposes.
The Common Shares were offered in Canada by way of a short-form prospectus filed in the Provinces of British Columbia, Alberta, Saskatchewan and Ontario.
No securities regulatory authority has either approved or disapproved the contents of this press release. The Common Shares have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws. Accordingly, the Common Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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