CODEBASE VENTURES INC. CLOSES NON-BROKERED PRIVATE PLACEMENT

February 25, 2020 3:02 PM

VANCOUVER, BC, CANADA (February 24, 2019) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF) announces it has completed the final tranche of its non-brokered private placement (the “Financing”). In the first tranche the Company raised proceeds of $520,525 through the sale of 24,786,904 Units. The second tranche the Company raised proceeds of $323,525 through the sale of 15,405,953 Units.  The final tranche the Company raised proceeds of $258,190 through the sale of 12,294,757 Units. No finder’s fees were payable on this final tranche.

 

The Company paid finders fees to qualified finders in closings 1 and 2 of a total of $36,204 and issued a total of 1,804,000 broker warrants, which are on the same terms as the warrants forming part of the units. Securities issued as a result of closing of this final tranche will be subject to a statutory hold period until June 25, 2020. The Company raised a total of $1,102,239.90.

 

Pursuant to the terms of the Financing, each Unit consists of one common share in the equity of the Company and one common share purchase warrant (a “Warrant”).  Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.05 per share for a period of two (2) years from the closing of the Financing. 

The proceeds of the Financing will be used for general working capital and to fund future investments.

About Codebase Ventures Inc.

Codebase Ventures Inc. is a small, hands-on team of financial and technology experts who invest early in great ideas. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow’s standards with platforms and protocols, not just products. We invest early, support our founders, take their ideas to market and work tirelessly to help them realize their vision.

For further information, please contact:

Brian Keane, Director

Investor Relations

Telephone:  1 (778) 806-5150 - TOLL FREE (877) 806-CODE (2633)

E-mail: IR@codebase.ventures

Forward Looking Statements

Certain information set forth in this website may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved.  A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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