/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Dec. 29, 2021 /CNW/ - Kadestone Capital
Corp. ("Kadestone" or the "Company") (TSXV: KDSX)
(OTCQB: KDCCF), a vertically integrated property company, is
pleased to announce that it has closed a non-brokered private
placement of an unsecured convertible note (the "Note") in
the principal amount of C$4,750,000 (the "Offering").
The Note will mature three years following the closing date with
an interest rate of 7% per annum and, at the election of the holder
and subject to certain terms and conditions, will be convertible
into up to 1,900,000 common shares of the Company (the
"Conversion Shares") at a conversion price of C$2.50 per Conversion Share (the "Conversion
Price"). The Note, and Conversion Shares issuable upon
conversion of the Note, are subject to a four month and one day
hold period from the date of closing of the Offering in accordance
with applicable Canadian securities laws.
The Company intends to use the net proceeds from the Offering to
pay down existing debt and for general corporate purposes.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
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 U.S. Persons (as defined in Regulation S
under the 1933 Act) absent such registration or an applicable
exemption from such registration requirements.
About Kadestone
Kadestone was established to pursue the investment in,
development, acquisition, and management of residential and
commercial income producing properties within major urban centres
and high-growth, emerging markets in Canada. The Company
operates five complimentary business lines spanning building
materials procurement and supply, property development and
construction, construction finance, asset ownership, and property
management. These synergistic business lines have solidified
Kadestone's vision to become a market leading vertically integrated
property company. Additional information can be found
at www.kadestone.com.
ON BEHALF OF THE BOARD
(signed) "Brent Billey"
President, CEO and Director
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.
Cautionary Statement Regarding Forward-Looking Statements
Certain information in this press release, including, but not
limited to, statements regarding the conversion of the Note, the
intended use of net proceeds of the Offering and the
Company's vision to become a leading vertically integrated property
company, may constitute forward looking information
(collectively, forward-looking statements), which can be identified
by the use of terms such as "may," "will," "should," "expect,"
"anticipate," "project," "estimate," "intend," "continue" or
"believe" (or the negatives) or other similar variations.
Forward-looking statements are based on estimates and assumptions
made by the Company in light of its experience and its perception
of historical trends, current conditions and expected future
developments, as well as other factors that the Company believes
are appropriate in the circumstances. Because of various risks and
uncertainties, including those referenced below, actual events or
results may differ materially from those reflected or contemplated
in such forward-looking statements. As a result, you should not
rely on such forward-looking statements. Additional information
identifying assumptions, risks and uncertainties relating to
Kadestone is contained in Kadestone's filings with the Canadian
securities regulators available at www.sedar.com. These risks
include those described in the "Risk Factors" section of the
Company's final prospectus dated September 2, 2020 and in the Management's
Discussion and Analysis for the years ended December 31, 2019 and 2020. The
forward-looking statements in this press release are applicable
only as of the date of this release or as of the date specified in
the relevant forward-looking statement. The Company has no
intention and undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Kadestone Capital Corp.