New #Blockchain and #Cryptocurrency Company #GoverMedia Plus Canada Corp. (CSE: $MPLS) ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING and #CSE Listing
New
#Blockchain and #Cryptocurrency Company #GoverMedia Plus Canada Corp. (CSE: $MPLS)
ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING and #CSE Listing
Vancouver, British Columbia: March 1, 2018 – GoverMedia Plus Canada Corp. (CSE:
MPLS) ("GoverMedia" or
the "Company") is pleased
to announce that, on February 28, 2018, it successfully completed its initial
public offering (the "IPO")
of 3,546,700 common shares (the "Shares")
at a price of $0.50 per Share for total gross proceeds of $1,773,350 (the
"Proceeds").
Read this news in
full at http://www.investorideas.com/CO/MPLS/news/2018/03011CSEListing-MPLS.asp
Pursuant to the agency agreement dated January 3,
2018, Mackie Research Capital Corporation acted as agent (the "Agent") for the IPO. GoverMedia
paid to the Agent an aggregate cash commission equal $131,868. In addition, GoverMedia granted the Agent and
its sub-agents non-transferable warrants entitling the Agent and its sub-agents
to purchase a total of 263,736 Shares at a price of $0.50 per Share until
February 28, 2020. In connection with closing of the IPO, the Agent also
received a corporate finance fee, which consisted of cash and 64,955 warrants
exercisable at $0.50 per share until January 8, 2020.
The closing of the IPO followed the successful
completion of a $1,000,000 capital raise pursuant to the exchange of sub
receipts that occurred in connection with the filing of the final prospectus on
January 8, 2018 (the "Sub-receipt
Closing"). The Sub-Receipt
Closing resulting in the issuance of 2,000,000 common shares at a deemed price
of $0.50 per share to holders of subscription receipts upon the issuance of the
receipt for the final prospectus by the British Columbia Securities
Commission. The Company paid $40,000 in
cash and issued 35,045 warrants to certain finders upon closing (the "Finder's Warrants"). Each Finder's Warrant is exercisable for one
common share at $0.50 per share until January 8, 2020.
GoverMedia's common shares were listed on the
Canadian Securities Exchange ("CSE")
effective February 28, 2018 and halted pending completion of the IPO.
GoverMedia anticipates that its common shares will resume trading on the CSE on
March 1, 2018 under the symbol "MPLS".
Listing and disclosure documents are available at www.thecse.com.
Roland J. Bopp, CEO of GoverMedia Plus Canada Corp.
commented, “The Company is pleased to be listed on the Canadian Securities
Exchange; an exchange that embraces innovation and technology. The IPO process
and resulting listing have provided access to the capital markets that will
enable the Company to successfully roll out its internet platform.”
GoverMedia also announces the appointment of Mr.
Arvin Ramos as Chief Financial Officer of the Company. Mr. Ramos brings extensive public company
experience to GoverMedia. In connection
with the appointment of Mr. Ramos and as disclosed in the prospectus, the
Company has issued 225,000 options to directors and officers of the Company
with an exercise price of $0.50 and which expire on February 28, 2023.
In addition, Mr. Aleksander Pushilin announces that
he holds an aggregate of 13,750,000 common shares (the "Securities"), representing
approximately 31.8% of the issued and outstanding common shares of GoverMedia
on an undiluted basis. The Securities were purchased by Mr. Pushilin prior to
the IPO and he holds no other convertible securities.
The Securities held by Mr. Pushilin are subject to
an Escrow Agreement in accordance with National Policy 46-201 – Escrow for Initial Public Offerings. Upon release of the Securities from escrow
pursuant to the terms of the Escrow Agreement, Mr. Pushilin may dispose of the Securities in
accordance with applicable securities laws.
Mr. Pushilin may, from time to time and at any time, acquire additional
shares and/or other equity, debt or other securities or instruments of
GoverMedia in the open market or otherwise, and reserve the right to dispose of
any or all of his Securities in the open market or otherwise at any time and
from time to time, and to engage in similar transactions with respect to the
Securities, the whole depending on market conditions, the business and
prospects of GoverMedia and other relevant factors, including compliance with
applicable securities laws.
A copy of the early warning report to be filed by
Mr. Pushilin will be available on SEDAR under GoverMedia's profile. This news
release is issued under the early warning provisions of the Canadian securities
legislation.
This press release is not an offer of
securities of the Company for sale in the United States. The Common Shares of the Company may not be
offered or sold in the United States absent registration under the U.S.
Securities Act of 1933, as amended (the U.S. Securities Act”), or an exemption
from such registration. The Common
Shares have not been and will not be publicly offered in the United
States. The Common Shares have not been
and will not be registered under the U.S. Securities Act or any state
securities laws.
THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED
STATES, FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF
UNITED STATES SECURITIES LAW
About GoverMedia Plus Canada Corp.
GoverMedia Plus Canada Corp. is a Canadian holding
company with a fully owned Russian technology subsidiary. GoverMedia has
developed a fully operational state of the art internet platform offering
all-inclusive online services such as, e-commerce, social media, multimedia,
corporate auctions, corporate database, messaging platform and crowdfunding
services. We believe the GoverMedia platform is the first and only internet
platform offering such a wide range of online services accessible via only one
account. The Company’s management and advisors have extensive expertise in the
Telecommunications, High-Technology, Corporate Development and Finance
fields. www.gm.plus
and www.govermedia.plus.
For further information, please contact:
Roland
J. Bopp
President and CEO
(888) 672-4415
Cautionary Note Regarding Forward-Looking
Statements
The statements made in this press release may contain certain
forward-looking statements concerning potential developments affecting the
business, prospects, financial condition and other aspects of GoverMedia. The
words "will", "may", "anticipate",
"intend", "plan" and similar words and expressions are used
to identify forward-looking information. These statements include that the
Company will resume trading on the CSE. The actual results of the specific
items described in this release, and the Company's operations generally, may
differ materially from what is projected in such forward-looking statements.
Although such statements are based upon the best judgments of GoverMedia's
management as of the date of this release, significant deviations in magnitude,
timing and other factors may result from business risks and uncertainties
including, without limitation, GoverMedia's dependence on third parties,
general market and economic conditions, technical factors, the availability of
outside capital, receipt of revenues and other factors, many of which are
beyond the control of GoverMedia. GoverMedia disclaims any obligation to update
information contained in any forward-looking statement unless required by
applicable securities laws.
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Disclosure: GoverMedia Plus Canada
Corp. (CSE: MPLS) is a paid PR news and social media client effective March 1,
2018, More info:
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