AMPD Ventures Inc (CSE:AMPD, OTCQB:AMPDF) has said it will complete a private placement through which the company is expected to issue and sell up to 7,142,858 units at a price of C$0.14 per unit for aggregate proceeds up to C$1 million.
Each unit will be comprised of one common share of the company and one common share purchase warrant, with each unit warrant entitling the holder to subscribe for one common share in the capital of the corporation at an exercise price of C$0.20 each for a period of 18 months following the date of the closing of the private placement.
The company said it intends to use the proceeds from the private placement for the deployment of AMPD infrastructure in additional geographic locations, to increase headcount, and for general working capital purposes.
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As part of this transaction, the company may enter into finder’s fee agreements with certain finders, paying to such finders up to 7% of the portion of the private placement raised via finders in cash and warrants, or in shares.
The private placement is subject to regulatory approval and all securities issued will be subject to a four-month hold period.
Separately, AMPD Ventures said it and its subsidiaries, Departure Lounge and AMPD Technologies. will be holding an Investor Update Reception to celebrate the launch of Departure Lounge’s 6,000 square foot studio in Vancouver at 170 - 577 Great Northern Way on Thursday, August 11, 2022, from 6.00pm-9.00pm.
The company said presentations will begin at 7.00pm and drinks and hors d’oeuvres will be served. Space is limited, so interested parties should register via the following link https://www.eventbrite.com/e/ampd-investor-update-reception-tickets-391803383467 and use the promo code PROACTIVE.
AMPD Ventures specializes in providing high-performance cloud and compute solutions for low latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis, and visualization.
Contact the author at jon.hopkins@proactiveinvestors.com