Vancouver, British Columbia–(Newsfile Corp. – December 13, 2019) – LOOPShare Ltd. (TSXV: LOOP) (OTCQB: LPPPF), announces that it has closed the second tranche of its previously announced non-brokered private placement (the “Private Placement”). In the second tranche aggregate, gross proceeds of $819,000 were raised through the issuance of 4,095,000 class “A” common shares (each a “Share”) at a price of $0.20 per share. The Company intends to close a final tranche of the Private Placement for additional gross proceeds of $763,500.
All securities issued in the second tranche of the private placement are subject to a resale restriction in accordance with applicable securities laws, which expires on April 13, 2020. The Company paid finder’s fees consisting of $25,600 in cash, 140,000 Shares and 268,000 finder’s warrants. Each finder’s warrant is exercisable into a Share at an exercise price of $0.20 for a period of 12 months.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
LOOPShare Ltd. is an emerging global leader in ridesharing, micro-mobility and sustainable transportation. To learn more, visit www.loopscooters.com