VANCOUVER, BC / CRWEPRESSRELEASE / September 2, 2015 /Mezzi Holdings Inc. (“MEZZI” or the “Company”) (CVE:MZI, FRA:0MZ) is pleased to announce the Company has arranged a non-brokered private placement offering for new capital. The non-brokered private placement is fully subscribed with the majority being taken by insiders, long-term, existing shareholders and cornerstone institutional investors for gross proceeds of $700,000.
The private placement is not expected to result in the creation of any new control persons or a change of control.
Pursuant to the closing, the Company will issue an aggregate 4,666,666 units (“Units”) at a price of $0.15 per Unit. Each Unit consists of one common share of the Company and one-half of a share purchase warrant. Each whole warrant will be exercisable into one additional common share (the “Warrant Share”) of the Company at $0.25 per Warrant Share for a period of two (2) years from closing of the private placement.
Certain insiders of the Company may acquire securities under the private placement. Any such participation would be considered to be a “related party transaction” as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.
The common shares and warrants issued to subscribers of the private placement will be subject to a statutory four-month hold period. Finders’ fees may be paid and finder’s warrants may be issued to arm’s length finders in connection with this private placement, subject to TSX Venture Exchange acceptance.
The Company intends to use the proceeds from the private placement for general working capital purposes and to close on certain acquisitions. While the Company intends to use the funds for the foregoing purposes, there may be circumstances where, for sound business reasons, funds may be reallocated.
MEZZI is disrupting the status quo in the luxury accessories market as it recently unveiled a beautiful new product line featuring cutting edge technology, making MEZZI the true smart luxury brand. Each piece, including handbags, duffel bags and essential leather goods, allows wireless connectivity between your MEZZI bag and smartphone, providing a completely new user experience. With fine leather sourced directly from Italy, all pieces in the MEZZI Smart Luxury collection are manufactured to precision quality.
For further information please contact:
Mr. Keir Reynolds
Tel: (778) 998-9242
ON BEHALF OF THE BOARD
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
SOURCE:Mezzi Holdings Inc.