Calgary, AB – ICEsoft Technologies Canada Corp. (“ICEsoft” or the “Company”) is
pleased to announce that on September 30, 2016 it closed a non‐brokered private
placement of 875,000 units (the “Units”) at a price of $0.20 per Unit, raising
aggregate net proceeds of approximately $175,000. Each Unit consists of one
common share and one common share purchase warrant exercisable at a price of
$0.24 per share until December 31, 2016 and thereafter exercisable at a price of
$0.30 per share until July 1, 2018 (the “Private Placement”). The funds will be
used for general working capital.
Concurrently with closing of the Private Placement, the Company completed the
conversion of $25,000 in accounts payable owed to owed to Company president
and CEO, Brian McKinney, at a deemed price of $0.20 per share or Unit, resulting
in the issuance of 125,000 Units.
“Icesoft continues to strengthen its balance sheet and advance its new product
development efforts” stated President and CEO Brian McKinney. “We have
officially launched our new smart notification product, Voyent, and expect
material sales to begin within the next two quarters.”
About ICEsoft Technologies Canada Corp.:
ICEsoft Technologies Canada Corp. is a software as a service company with
approximately USD$2.1 million in annual recurrring revenues. ICEsoft has recently
launched a new smart notification product, Voyent. ICEsoft’s current software is
used by over 150,000 developers, 20,000 companies, and 400 paying customers.
For more information, please contact:
Chief Financial Officer
Forward-Looking Information Advisory
Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Private Placement and debt conversion transactions, assumptions about future economic conditions and courses of action, and the Company’s beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward-looking information. The forward-looking information in this material change report describes the Company’s expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.