POSaBIT Secures $3.63M Private Offering, Aiming To Reach 8 More States

POSaBIT Systems Corporation (OTCQB: POSAF) (CSE:PBIT) the leading provider of payments infrastructure in the industry, secured a non-brokered private placement of 5.86 million units of the company, at a premium to market subscription price of CA$0.80 per unit, for aggregate gross proceeds of approximately CA$4.7 million ($3.63 million).

Pursuant to the offering, 4.5 million units will be issued to existing investors of the company who will, concurrently with the closing of the offering, exercise 600,063 previously issued common share purchase warrants for additional gross proceeds to the company of CA$200,000. The offering is expected to close imminently.

Each unit consists of one common share of the company and three-quarters (3/4) of one common share purchase warrant. each warrant comprising units issued to existing investors …

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