Vancouver, BC – 360 Capital Financial Services Group Inc. (CSE:TSZ, www.360capital.ca) announced today that the company has closed its previously reported non-brokered private placement (“Offering”), which is oversubscribed.
The Company issued thirty (30) million units at $0.03 per Unit for aggregate gross proceeds of $900,000. Each Unit is comprised of one common share in the capital of the Company and one transferable common share purchase warrant, with each share purchase warrant being exercisable into one Common Share at a price of $0.05 for a period of three years from the date of issuance. The offering was sold pursuant to exemptions from prospectus requirements in accordance with applicable securities law and Canadian Securities Exchange policies. The proceeds of the private placement will be utilized for the Company’s working capital purposes and to invest in new business opportunities.
Closing of the Offering is subject to receipt of approval from the Exchange and all securities issued are subject to a four-month hold period in accordance with applicable Canadian securities laws..