AMPD Ventures Inc (CSE:AMPD, OTCQB:AMPDF) has announced its intention to conduct a non-brokered private placement financing through the sale of up to 14,285,715 company units, at a price of C$0.14 per unit, for proceeds to AMPD of up to C$2 million.
The company said it intends to use the proceeds from the offering for the deployment of AMPD infrastructure in additional geographic locations, to increase headcount, and for general working capital purposes.
Each unit will be comprised of one company common share plus one common share purchase warrant, with each warrant entitling the holder to subscribe for one AMPD Ventures common share, at an exercise price of C$0.20 per warrant share, for a period of 24 months following the date of the closing of the private placement.
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AMPD noted that as part of the transaction, it may enter into finder’s fee agreements with qualified finders, in accordance with securities laws and the policies of the Canadian Stock Exchange (CSE).
The private placement is subject to regulatory approval and all securities issued will be subject to a four-month hold period.
AMPD Ventures is building the world’s best suite of tools and technologies for the creation and distribution of next-generation digital content. Through its operating subsidiaries, AMPD Technologies and Departure Lounge, AMPD is combining the power of the high-performance edge approach to cloud computing with world-leading capture technologies to enable companies to enter the next era of digital content.
Contact Sean at sean@proactiveinvestors.com