BTL Group Ltd. to Increase Proposed Private Placement to $655,000 Worth of Equity Units
BTL Group Ltd. has announced its intention to revise the size of its recently announced proposed non-brokered private placement with by increasing the value of equity units of the corporation by up to CAD$655,000. Previously it had been revealed, on April 14th, that it proposed to undertake a private placement of equity units, at CAD$0.60 per equity unit. Pursuant to the private placement, up to 1,091,666 equity units may be issued.
Each unit will remain comprised of one common share of BTL Group and one common share purchase warrant of the BTL Group. Similarly, each warrant will still entitle the holder to acquire one common share of BTL Group for a period of 12 months from the date of issuance of the warrant, at an exercise price of CAD$1.00 per share.
Likewise, the other aspects of the proposal, including TSX Venture Exchange approval, four-month hold period, intention of using proceeds to fund acceleration of blockchain development and potential commission or finder’s fee, remain unchanged.