Interlapse Announces Non-Brokered Private Placement Update
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
VANCOUVER, BC, Oct. 27, 2020 /CNW/ - Interlapse Technologies Corp. (TSXV: INLA) (OTCQB: INLAF) announces that the Company intends to increase the size of its previously announced non-brokered private placement offering (see press release dated September 23, 2020) of up to approximately 5,000,000 units of the Company (the "Units") at C$0.15 per Unit, for aggregate gross proceeds of up to approximately C$750,000.
Each Unit is comprised of one common share of the Company and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of C$0.20 per share for a period of 18 months from the date of issuance. In the event that the closing trading price of the shares on the TSX Venture Exchange ("TSX-V") is C$0.40 or greater for a period of 10 consecutive trading days, the Company may, at its option, accelerate the warrant expiry date by issuing a press release.
The Company may pay finders' fees in connection with the private placement. Completion of the private placement is subject to certain conditions, including, but not limited to, the approval of the TSX-V.
Interlapse plans to use the funds towards further development of the Company's virtual currency and digital asset business.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities 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 U.S. Securities Act) unless an exemption from such registration is available.
About Interlapse Technologies Corp.
Interlapse Technologies Corp. is a financial technology applications company accelerating the global mega-trend of virtual currency adoption. Our signature product, Coincurve.com, enables a simple, safe way to buy, sell and spend virtual currency.
To learn more, visit www.interlapse.com.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Interlapse Technologies Corp.
Company Codes: OTC-QB:INLAF, TorontoVE:INLA
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