AMPD Ventures Inc (CSE:AMPD, OTCQB:AMPDF) said it has closed the second and final tranche of the non-brokered private placement it announced on August 4, 2022.
In conjunction with the closing, the company issued an additional 8,454,999 units at a price of C$0.14 per unit for gross proceeds of C$1,183,700, resulting in a total issuance for the private placement of 13,053,571 units for total gross proceeds of C$1,827,500.
The company said it intends to use the proceeds from the private placement for the deployment of AMPD infrastructure, to increase headcount, and for general working capital purposes.
Each unit in the private placement is comprised of one common share of the company and one common share purchase warrant, with each unit warrant entitling the holder to subscribe for one common share in the capital of the corporation at an exercise price of C$0.20 each for a period of 18 months following the date of the closing of the private placement.
READ: AMPD Ventures closes first tranche its non-brokered private placement; increases size of overall offering to $1.8M
In connection with the second and final tranche of the private placement, the company paid certain finders C$60,583.60 in cash, and 432,740 unit warrants as finder’s fees, resulting in total finder’s consideration across the private placement of C$92,629.60 in cash and 661,640 unit warrants.
All securities issued under the private placement are subject to a four-month and one-day hold period, and completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange (CSE).
AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, the company is leading the transition to the next generation of computing infrastructure as ‘the hosting company of the Metaverse.’
Through a mix of infrastructure as a service (IaaS) and an upgraded, high-performance cloud offering, the company is meeting the low-latency requirements of multiplayer video games and eSports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades.
Contact the author at jon.hopkins@proactiveinvestors.com