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     393  0 Kommentare Emblem Announces $25 Million Bought Deal

    TORONTO, ONTARIO--(Marketwired - Oct. 16, 2017) -

    NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    Emblem Corp. (TSX VENTURE:EMC)(TSX VENTURE:EMC.WT) ("Emblem" or the "Company") is pleased to announce that it has entered into a letter of engagement with Eight Capital under which Eight Capital has agreed to purchase 5,714,300 units (the "Units") and 15,000 convertible unsecured debentures (the "Convertible Debentures") of the Company (together, the "Offered Securities"), on a "bought deal" basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $1.75 (the "Unit Issue Price") for gross proceeds of $10,000,025 and a price per Convertible Debenture of $1,000.00 (the "Convertible Debenture Issue Price") for gross proceeds of $15,000,000, for total gross proceeds of $25,000,025 (the "Offering"). Prior to closing the Offering, Eight Capital and the Company may agree to form a syndicate of underwriters.

    The Company has agreed to grant Eight Capital an over-allotment option to purchase up to an additional 15% of the Units at the Unit Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $1,500,004 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $26,500,029.

    Each Unit will be comprised of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $2.15, for a period of 36 months following the closing of the Offering.

    The Convertible Debentures shall bear interest at a rate of 8.0% per annum from the date of issue, payable semi-annually in arrears on June 30 and December 31 of each year. The Convertible Debentures will have a maturity date of 36 months from the closing date of the Offering (the "Maturity Date").

    The Convertible Debentures will be convertible at the option of the holder into common shares of the Company ("Shares") at any time prior to the close of business on the Maturity Date at a conversion price of $1.95 per Share (the "Conversion Price"). Beginning on the date following the closing date, the Company may force the conversion of all of the principal amount of the then outstanding Convertible Debentures at the Conversion Price on 30 days prior written notice should the daily volume weighted average trading price of the Shares be greater than $2.93, for any 10 consecutive trading days.

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    Emblem Announces $25 Million Bought Deal TORONTO, ONTARIO--(Marketwired - Oct. 16, 2017) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Emblem Corp. (TSX VENTURE:EMC)(TSX VENTURE:EMC.WT) ("Emblem" or the "Company") is …