MONTRÉAL, Feb. 3, 2025
/CNW/ - Geekco Technologies Corporation (the
"Corporation" or "Geekco") (TSXV: GKO) is
pleased to announce that it has closed as of January 31, 2025 the first tranche of a
non-brokered private placement (the "Private Placement").
Under the first tranche of the Private Placement, the Corporation
issued 7,000,000 units ("Units") at a price
of $0.05 per Unit for aggregate gross proceeds
of $350,000 out of a maximum of $600,000 (or
12,000,000 Units) to investors dealing at arm's length with the
Corporation. Each Unit consists of one (1) Class A share of the
share capital of the Corporation (each a "Common Share") and
one (1) warrant (each a "Warrant"). Each Warrant entitles
the holder to acquire one (1) additional Common Share at a price
of $0.08 until three (3) years from their issuance
date.
The Corporation intends to use the net proceeds from Private
Placement for general and working capital purposes.
Any intermediary can receive a cash commission of up to 7% of
the aggregate gross proceeds of subscriptions for the Private
Placement submitted by this intermediary; and a commission in the
form of intermediary warrants for an equivalent number of up to 7%
of the number of Units issued under the Private Placement from
subscriptions submitted by this intermediary. Each intermediary
warrant will have the same terms as the Warrants included in the
Units. In connection with the first tranche of the Private
Placement, an aggregate of $2,800
have been paid in cash and 56,000 of such intermediary warrants
have been issued to intermediaries, all dealing at arm's length
with the Corporation.
All securities issued within the Private Placement are subject
to a four-month and one-day resale restriction period from the
closing date of the Private Placement. The Private Placement
is subject to the final approval of the TSX Venture Exchange (the
"TSXV") and any other applicable regulatory approvals.
Previous Private Placement
Further to its press release dated November 4, 2024, the Corporation concurrently
announces that it will not be pursuing with additional closings for
its previously announced private placement pursuant to which
$250,000 was raised.
ABOUT GEEKCO
Geekco is positioned at the forefront of technological solutions
that are evolving the new way of doing marketing while stimulating
and energizing the economy of each city and each neighborhood by
making consumers and shops interact like never before. Its Tell Me
application allows users to discover businesses around them in real
time using the interactive map, access exclusive rewards and even
find a job. Shops thus increase their traffic and their visibility
while recruiting their future employees. All this in the same
app.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Geekco Technologies inc
