/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
CUPERTINO, Calif., Feb. 27,
2025 /CNW/ - (TSXV: BWLK) (OTCQB: BWLKF)
Boardwalktech Software Corp. (the "Company" or
"Boardwalktech") is pleased to announce, subject to the
approval of the TSX Venture Exchange (the "TSXV") ,
that it intends to complete a non-brokered private placement
for gross proceeds of up to C$1,500,000 (the "Offering") pursuant
to the Listed Issuer Financing Exemption (the "LIFE") of
National Instrument 45-106 - Prospectus Exemptions ("NI
45-106").
The Offering will consist of up to 11,538,462 units of the
Company (each, a "Unit", and collectively the
"Units") at a price of C$0.13
per Unit (the "Offering Price"). Each Unit will be comprised
of one Common Share (each, a "Common Share", and
collectively the "Common Shares") and one Common Share
purchase warrant (each whole warrant, a "Warrant" and
collectively the "Warrants"). Each Warrant will entitle the
holder thereof to acquire one Common Share at a price of
C$0.25 per Common Share for a period
of 12 months from the closing date of the Offering.
Subject to compliance with applicable regulatory requirements,
and in accordance with NI 45-106, the Offering is being made to
purchasers resident in Canada
pursuant to the LIFE Part 5A of NI 45-106. The securities issued
under the Offering will not be subject to a hold period in
accordance with applicable Canadian securities laws.
There is an offering document related to the Offering that can
be accessed under the Company's profile at
www.sedarplus.ca and on the Company's website
at https://ir.boardwalktech.com/form-page. Prospective
investors should read this offering document before making an
investment decision.
The Company expects to use the net proceeds of the Offering for
sales and marketing expenditures, working capital requirements, and
to enhance its balance sheet to drive new business. Closing of the
Offering is expected to occur on or about March 6, 2025, or such other date as the Company
may decide, and remains subject to the Company obtaining all
necessary corporate and regulatory approvals, including approval of
the TSXV. The Company may pay finders' fees in connection with the
Offering and in accordance with the policies of the TSXV.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described in
this news release. Such securities have not been, and will not be,
registered under the U.S. Securities Act, or any state securities
laws, and, accordingly, may not be offered or sold within
the United States, or to or for
the account or benefit of persons in the
United States or "U.S. Persons", as such term is defined in
Regulation S promulgated under the U.S. Securities Act, unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
On Behalf of the Company
Andrew Duncan,
CEO & Chairman
About Boardwalktech Software Corp.
Boardwalktech has developed a patented Digital Ledger Technology
Platform currently used by Fortune 500 companies running
mission-critical applications worldwide. Boardwalktech's digital
ledger technology and its unique method of managing vast amounts of
structured and unstructured data is the only platform on the market
today where multiple parties can effectively work on the same data
simultaneously while preserving the fidelity and provenance of the
data. Boardwalktech can deliver collaborative, purpose-built
enterprise information management applications on any device or
user interface with full integration with enterprise systems of
record in a fraction of the time it takes other non-digital ledger
technology-based platforms. Boardwalktech is headquartered in
Cupertino, California with offices
in India and operations in
North America. For more
information on Boardwalktech, visit our website at
www.boardwalktech.com.
Legal Disclaimer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statement
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation and may also contain statements that may constitute
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Such forward-looking information and statements are not
representative of historical facts or information or current
condition, but instead represent only the Company's beliefs
regarding future events, plans or objectives, many of which, by
their nature, are inherently uncertain and outside of the Company's
control. Generally, such forward-looking information or statements
can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or may contain statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"will continue", "will occur" or "will be achieved". The
forward-looking information contained herein may include, but is
not limited to, information concerning the Offering and the use of
any proceeds raised under the Offering.
By identifying such information and statements in this manner,
the Company is alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
An investment in securities of the Company is speculative and
subject to several risks including, without limitation, the risks
discussed under the heading "Risk Factors" in the Company's filing
statement dated February 25, 2025.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in the forward-looking information and forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended.
In connection with the forward-looking information and
forward-looking statements contained in this press release, the
Company has made certain assumptions. Although the Company believes
that the assumptions and factors used in preparing, and the
expectations contained in, the forward-looking information and
statements are reasonable, undue reliance should not be placed on
such information and statements, and no assurance or guarantee can
be given that such forward-looking information and statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information and
statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release, and the Company does not undertake to update
any forward-looking information and/or forward-looking statements
that are contained or referenced herein, except in accordance with
applicable securities laws. All subsequent written and oral
forward- looking information and statements attributable to the
Company or persons acting on its behalf is expressly qualified in
its entirety by this notice.
SOURCE Boardwalktech Software Corp.
