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OTTAWA, Sept. 12, 2019 /CNW/ - Martello Technologies
Group Inc., ("Martello" or the "Company") (TSXV: MTLO) a leading
provider of technology solutions that deliver clarity and control
of complex IT environments, today announced that it has filed a
preliminary short form prospectus (the "Preliminary Prospectus") in
connection with an overnight marketed public offering (the
"Offering") of common shares (the "Common Shares"). The size of the
Offering will be determined in the context of the market at the
time of entering into a definitive underwriting agreement between
the Company and the Underwriters.
The Offering is being conducted by a syndicate of underwriters
(the "Underwriters"), led by Canaccord Genuity Corp. The
Preliminary Prospectus was filed in each of Ontario, British
Columbia and Alberta.
The Offering will be made pursuant to the terms of an
underwriting agreement (the "Underwriting Agreement") to be entered
into between the Company and the Underwriters. The Underwriting
Agreement will provide that the Company will grant the Underwriters
an option (the "Over-Allotment Option") to purchase up to a number
of additional Common Shares equal to 15% of the Common Shares sold
pursuant to the Offering, exercisable in whole or in part at any
time up to 30 days after and including the closing date of the
Offering.
The Company intends to use the net proceeds of the Offering to
identify and fund acquisitions, accelerate R&D activities,
increase sales capacity and for general corporate purposes.
The Offering is scheduled to close on or about September 27, 2019, or such other date as may be
agreed to between the Company and the Underwriters (the "Closing
Date") and is subject to certain conditions, including, but not
limited to, the entering into of the Underwriting Agreement and the
receipt of all necessary approvals, including the approval of the
TSX Venture Exchange (the "TSXV") and the applicable securities
regulatory authorities.
This press release does not constitute an offer of the
securities of the Company for sale in the
United States. The securities of the Company have not been
registered under the United States Securities Act of 1933, (the
"1933 Act") as amended, and may not be offered or sold within
the United States absent
registration or an exemption from registration under the 1933
Act.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale
would be unlawful.
About Martello Technologies Group Inc.
Martello Technologies Group Inc. (TSXV: MTLO) is a technology
company that provides clarity and control of complex IT
infrastructures. The company develops products and solutions that
monitor, manage and optimize the performance of real-time
applications on networks, while giving IT teams and service
providers control and visibility of their entire IT infrastructure.
Martello's products include SD-WAN technology, network performance
management software, and IT analytics software. Martello
Technologies Group is a public company headquartered in
Ottawa, Canada with offices in
Montreal, Amsterdam, Paris, Dallas
and New York. Learn more at
http://www.martellotech.com
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Note Regarding Forward-Looking
Statements
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, the Company disclaims any intention and assume no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable securities law. Additionally, the Company
undertakes no obligation to comment on the expectations of, or
statements made, by third parties in respect of the matters
discussed above.
SOURCE Martello Technologies Group Inc.