Not for distribution to United States newswire services or for release, publication, distribution or dissemination, directly or indirectly, in whole or in part, in or into the United States.
Tokens.com Corp. a publicly traded company that invests in revenue-generating crypto and blockchain assets linked to Decentralized Finance (“DeFi”), Non-Fungible Tokens (“NFT”) and metaverse real estate, is pleased to announce the closing of its previously announced private placement, pursuant to which it raised aggregate gross proceeds of CAD$16.0 million from the sale of units of the Company (each, a “Unit“) at a price of CAD$0.90 per Unit (the “Offering“).
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The net proceeds from the Offering are expected to be invested into the purchase of additional metaverse assets, through the Metaverse Group, for the purchase of cryptocurrencies to be used for staking (the environmentally friendly alternative to crypto mining), and for working capital and general corporate purposes.
“We are pleased that our offering was oversubscribed and excited to further invest into metaverse NFT based real estate through our partners at Metaverse Group, and to further purchase DeFi and NFT linked tokens to be used for staking,” said Andrew Kiguel, CEO of Tokens.com. “This financing provides us the ability to enhance and grow our strategy of providing public market investors with exposure to the most exciting and fastest growing areas of crypto and blockchain technology.”
The Offering was comprised of: (i) a brokered private placement of 17,157,345 Units for aggregate gross proceeds of CAD$15,441,610 and (ii) an issuer direct private placement of 620,555 Units for aggregate gross proceeds of CAD$558,500. The brokered offering was led by Stifel GMP on behalf of a syndicate of agents, including PowerOne Capital Markets Limited, Canaccord Genuity Corp., Eventus Capital Corp., M Partners Inc. and Richardson Wealth Limited (collectively, the “Agents“), and was conducted pursuant to the terms of an agency agreement dated as of the date of this release among the Company and the Agents. The gross proceeds of the Offering included proceeds raised from the exercise, in full, of the Agents’ over-allotment option.
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Each Unit consists of one common share in the capital of the Company (each, a “Share“) and one-half of one share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Share at a price of CAD$1.15 per Share, subject to adjustment in certain events, until November 16, 2024.
Pursuant to the terms of the agency agreement, the Company: (i) paid the Agents a cash commission and advisory fee in the aggregate amount of CAD$912,006, and (ii) issued the Agents an aggregate of 1,013,339 broker warrants (the “Broker Warrants”). Each Broker Warrant is exercisable into one Unit (having the same terms as set out above) at a price of CAD$0.90 per Unit until November 16, 2024.
All securities issued in connection with the Offering are subject to a four-month and one day hold period under applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities sold under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act“), or any state securities laws, and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
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