TORONTO, Feb. 07, 2018 (GLOBE NEWSWIRE) — (TSX Venture:FTI) FTI Foodtech International Inc. (“FTI”) announces that it has retained Stockhouse Publishing Ltd. of Vancouver, B.C. to market the private placement offering announced December 29, 2017 (the “Offering”).
The Offering is a non-brokered offering of 6,000,000 units of the Issuer (the “Units”), at a price of $0.50 per Unit. Each Unit will be comprised of one Common Share and one common share purchase warrant (a “Warrant”), each Warrant being exercisable to acquire one Common Share at a price of $1.00 per Common Share for a period of one (1) year following the closing date of the private placement (date to be determined).
The fully subscribed Offering would have gross proceeds of $3,000,000, with a potential for an additional $6,000,000 with fully exercised warrants. These proceeds will be used for costs related to the integration of the Flash crypto-currency with the barter industry, to fund liquidation projects, to evaluate other opportunities, to cover the company’s operating expenses and to reduce company debt. A further press release will be issued once the financing has been completed.
The TSX Venture Exchange Inc. has not approved the contents of this press release. 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.
For further information, contact: William Hullah, President, FTI at (416) 444-1058.