Halo Announces At-The-Market Equity Financing Program

Nachrichtenquelle: Business Wire (engl.)
17.09.2020, 15:56  |  1349   |   |   

Halo Labs Inc. ("Halo" or the "Company") (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) today announces that it has established an at-the-market equity program (the "ATM Program") that allows the Company to issue and sell up to C$7,000,000 of common shares in the capital of the Company (the "Common Shares") from treasury to the public, from time to time, at the Company's discretion. All Common Shares sold under the ATM Program will be sold through the Neo Exchange Inc. or another marketplace (as defined in National Instrument 21-101 - Marketplace Operation) upon which the Common Shares are listed, quoted or otherwise traded, at the prevailing market price at the time of sale.

The volume and timing of distributions under the ATM Program, if any, will be determined in the Company's sole discretion. The ATM Program is designed to provide the Company with additional financing flexibility should it be required in the future. The Company intends to use the net proceeds from the ATM Program, if any, for general corporate purposes, working capital needs and capital expenditures, including the repayment of indebtedness. As Common Shares distributed under the ATM Program will be issued and sold at the prevailing market prices at the time of each sale, prices may vary among purchasers during the period of the ATM Program.

"We are excited to launch our ATM Program as it will provide us with additional flexibility to access equity capital when market conditions are favourable. We now have a number of strategic sources of capital available to us, which further strengthens our financial position as we continue to progress towards profitability," stated Kiran Sidhu, Chief Executive Officer of the Company.

Distributions of the Common Shares under the ATM Program will be made pursuant to the terms of an equity distribution agreement (the "Distribution Agreement") dated September 16, 2020 by and among the Company and PI Financial Corp. (the "Agent"). Pursuant to the terms of the Distribution Agreement, the ATM Program will be effective until the earlier of October 3, 2022 and the issuance and sale of all of the Common Shares issuable under the ATM Program, unless terminated prior to such date by the Company or the Agent in accordance with the terms of the Distribution Agreement. The Distribution Agreement will be made available under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com.

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