August 26, 2020 - Gatekeeper Systems Inc. (TSXV: GSI)
Is this unusual? Closed today at $0.63.
Gatekeeper Announces $5 Million Financing at $1 per Unit
Abbotsford, British Columbia--(Newsfile Corp. - August 26, 2020) - Gatekeeper Systems Inc. (TSXV: GSI) (OTC: GKPRF) (FSE: 1GK) ('Gatekeeper' or the 'Company') a leading provider of intelligent video solutions for public transport and smart cities, is pleased to announce that it intends to complete a non-brokered private placement of up to $5 million (the "Financing") through the issuance of up to 5,000,000 units (each, a "Unit") at a price of $1.00 per Unit.
The Company has received unsolicited interest for the entirety of the Financing, and does not anticipate any finders fees or commissions to be paid in connection with the Financing. The Company intends to use the proceeds of the Financing to fund growth initiatives and for general corporate purposes.
Each Unit in the Financing will consist of one common share of the Company and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to acquire one additional common share at a price of $1.10 for a period of twenty-four (24) months from the date of closing. Should the stock price trade over $1.35 per share for a period of ten consecutive trading days, the Company will have the right to accelerate the expiry of the Warrants by providing notice to the holders of the Warrants by news release that the Warrants will expire on the date that is not less than 30 days from the date the notice is provided.
All securities issued in connection with the Financing will be subject to a four month hold period under applicable Canadian securities laws. The closing of the Financing is subject to acceptance of the TSX Venture Exchange.
About Gatekeeper Systems Inc.
Gatekeeper is a leading provider of intelligent video solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes. The Company uses AI, video analytics and mobile data collectors to inter-connect public transit assets as part of intelligent transportation systems for Smart City initiatives. The Company's Platform-as-a-Service (PaaS) business model is designed to connect moving vehicles in the era of Internet of Things (IOT).
www.gatekeeper-systems.com
Contact Information
Douglas Dyment
President & CEO
ddyment@gatekeeper-systems.com
(604) 864-6187 |
