AMPD Ventures Announces the Closing of the Second Tranche of Their Private Placement
VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / AMPD Ventures Inc. (CSE:AMPD)(OTCQB:AMPDF)(FRA:2Q0) ("AMPD" or the "Company"), a next-generation digital infrastructure provider, is pleased to announce that it has closed its second tranche of the …
VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / AMPD Ventures Inc. (CSE:AMPD)(OTCQB:AMPDF)(FRA:2Q0) ("AMPD" or the "Company"), a next-generation digital infrastructure provider, is pleased to announce that it has closed its second tranche of the Company's non-brokered private placement announced on October 25, 2022 (the "Private Placement").
In conjunction with this second closing, the Company issued an additional 8,491,016 Units at a price of CAN$0.14 per Unit for gross proceeds of CAN$1,188,742. Each Unit is comprised of one common share of the Company (each a ‘Share') and one common share purchase warrant (each a "Unit Warrant" and, collectively, the "Unit Warrants"), with each Unit Warrant entitling the holder to subscribe for one Common Share (each a "Warrant Share" and, collectively, the "Warrant Shares") in the capital of the Corporation at an exercise price of CAN$0.20 per Warrant Share for a period of 24 months following the date of the closing of the Private Placement.
To accommodate requests from subscribers, AMPD is closing this second tranche, but will continue to accept investments up to $2,000,0000 and extend our closing date to mid December. To date AMPD has closed a total of $1,560,742 on these first two tranches.
Anthony Brown, CEO commented, "we are pleased to have closed over three quarters of our financing now. With many new investors, several from Europe, it has been great to see the growth of a broader global investor group participating in this round. The interest has been solid, especially when considering the markets, we are all traversing".
In connection with the Private Placement, the Company paid certain finders CAN$71,505 in cash, and 510,751 Unit Warrants as finder's fees.
All securities issued under the private placement are subject to a four-month and one-day hold period, and completion of the financing is subject to conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange ("CSE").
The Company intends to use the proceeds from the private placement to deploy AMPD infrastructure, increase headcount, and for general working capital purposes.
About AMPD Ventures Inc.
AMPD Ventures Inc. ("AMPD") is building the world's best suite of tools and technologies for digital content creation and distribution. Through its operating subsidiaries, AMPD Technologies and Departure Lounge, AMPD is advancing the way we create and consume content. By combining the power of the high-performance edge approach to cloud computing with world-leading media production technologies, AMPD enables companies to enter the next era of the internet. The team at AMPD has been leading technological developments within the games and digital media industries for nearly twenty years. AMPD was listed as a public company in 2019. Additional information about the company is available on SEDAR and our website at http://www.ampd.tech.