On March 1, 2022, Facedrive Inc. (TSXV:FD) (“Facedrive” or the “Company”) announced the completion of a non-brokered private placement. Facedrive issued 7,343,750 units (the “Units”) at a subscription price of $0.64 per Unit, for aggregate gross proceeds to the Company of $4,700,000. All subscriptions came from directors of the Company. Each Unit consisted of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional Share (a “Warrant Share”) at a price of $0.80 per Warrant Share for a period of 36 months from the date of issuance, subject to customary adjustment provisions.
Facedrive is a Canadian tech company that offers green personal transportation and food delivery solutions by focusing on carbon emissions reduction.
Miller Thomson advised Facedrive with a team comprised of Geoff Clarke, Jonathan Tong and Shimmy Igelman (Capital Markets & Securities).
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