VANCOUVER, BC / CRWEPRESSRELEASE / September 21, 2015 / Mezzi Holdings Inc. (“Mezzi” or the “Company”) (CVE:MZI, FRA:0MZ) is pleased to announce that the Company has closed its previously announced private placement financing (the “Offering”). Pursuant to the Offering, the Company issued 5,135,000 units at a price of $0.15 per unit for gross proceeds totaling $770,250. Each unit consists of one common share of the Company, and one half of one share purchase warrant entitling the holder to acquire an additional share at a price of $0.25 per share for a period of twenty-four months (the “Warrants”).
In connection with the Offering, the Company issued 168,400 non-transferable finder warrants, exercisable at a price of $0.25 per share for a period of twenty-four months, and paid $25,260 to finders who introduced subscribers to the Offering.
All securities issued pursuant to the Offering are subject to a four month and one day hold period.
Early Warning Report:
Pursuant to the private placement, Keir Reynolds has acquired ownership, control and direction over 2,500,000 common shares of the Company, representing 5.8% of the issued and outstanding common shares of the Company, and 1,250,000 Warrants.
Following the acquisition, Mr. Reynolds has ownership, control and direction over 3,557,500 common shares, representing 8.2% of the issued and outstanding common shares of the Company, 550,000 share purchase options and 1,250,000 Warrants. Assuming exercise of all of the share purchase options and warrants held by Mr. Reynolds, he would have ownership, control and direction over 5,357,500 common shares, representing 12.3% of the issued and outstanding common shares. Mr. Reynolds also exercises control and direction over 1,297,500 common shares of the Company held by Mammoth Market Advisory Corp. When combined with Mr. Reynolds existing holdings, and assuming exercise of all share purchase options held by Mr. Reynolds, he would have control and direction over 6,655,000 common shares, representing 15.3% of the issued and outstanding common shares.
Mr. Reynolds has advised the Company that he has acquired the shares for investment purposes, and may in the future acquire additional shares or dispose of shares as he sees fit, subject to applicable securities trading and disclosure rules and regulations.
A copy of the early warning report filed with the applicable securities regulators regarding the above acquisition is available under the Company’s SEDAR profile (www.sedar.com).
In addition, Mezzi has granted 2,080,000 incentive stock options. The stock options were granted to officers, directors and consultants of the company at an exercise price equal to 20 cents per share, and expire five years from the date of grant.
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.