Wi2Wi Corporation Announces Private Placement

Rhea-AI Summary

Wi2Wi (TSXV:YTY)(OTC PINK:ISEYF) has announced a non-brokered private placement of up to 12,000,000 Units at $0.05 per Unit, aiming to raise up to $600,000. Each Unit consists of one common share and one-half warrant, with each whole warrant allowing purchase of an additional share at $0.10 for two years. The warrant includes an acceleration clause if shares trade at or above $0.10 for 10 consecutive days. The offering is subject to regulatory approvals, including TSX Venture Exchange, with a four-month hold period. Proceeds will be used for general working capital and corporate purposes.

Positive

• Raising up to $600,000 in new capital for working capital purposes

Negative

• Potential shareholder dilution through issuance of up to 12,000,000 new shares
• Additional dilution possible through warrant exercise of up to 6,000,000 shares

TORONTO, ON / ACCESSWIRE / November 14, 2024 / Wi2Wi Corporation (TSXV:YTY)(OTC PINK:ISEYF) ("Wi2Wi" or the "Company") announces a non-brokered private placement of up to 12,000,000 Units of the Company (the "Units") at a price of $0.05 per Unit, for aggregate proceeds of up to $600,000 (the "Offering").Each Unit will be comprised of one common share (a "Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one additional Share of the Company at an exercise price of $0.10 for a period of two years from closing of the Offering, subject to an acceleration clause

If, at any time prior to the expiry date of the Warrants, the closing price of the Common Shares on the TSX Venture Exchange is equal to or greater than $0.10 for any 10 consecutive trading days, then the Company may, at its option, accelerate the expiry date of the Warrants by issuing a press release announcing that the expiry date of the Warrants shall be deemed to be on the 30th day following the issuance of the Warrant acceleration press release. All Warrants that remain unexercised following the accelerated expiry date shall immediately expire and all rights of holders of such Warrants shall be terminated without any compensation to such holder.

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange (the "Exchange"). All Shares issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with the policies of Exchange and applicable securities legislation.

The Company plans to use the net proceeds of the Offering for general working capital and corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Wi2Wi Corporation

Wi2Wi is a specialized electronic component supplier with expertise in all aspects of frequency control devices as well as in wireless technologies. Wi2Wi's Precision Devices brand of products has earned a premier spot in numerous key markets including avionics, aerospace, industrial equipment, government, and the US military. Wi2Wi's frequency control products are best-in-class and of the highest quality.

Founded in 2005, Wi2Wi's headquarters, design center and state-of-the-art manufacturing facility are located in the heart of America's industrial belt in Middleton, WI. Wi2Wi can deliver specific solutions using its in-house design and manufacturing expertise, as well as leveraging many tier-1 global partnerships with numerous industry leading silicon and wireless technology suppliers.

Wi2Wi has partnered with best-in-class sales leaders. The company uses a global network of manufacturer's representatives to promote its products and services, and has partnered with world class distributors for the fulfillment of orders all of which augment a US-based direct sales team.

Wi2Wi is extremely proud to serve hundreds of the world's top companies with its made-in-America products.

Investor & Media Contact

Ted Clark, Chief Executive Office
+1-469-545-3423
ted_c@wi2wi.com

Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward- looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Wi2Wi Corp.

View the original press release on accesswire.com

FAQ

What is the price per Unit in Wi2Wi's (ISEYF) November 2024 private placement?

The price per Unit in Wi2Wi's private placement is $0.05.

How much capital is Wi2Wi (ISEYF) seeking to raise in its November 2024 private placement?

Wi2Wi is seeking to raise up to $600,000 through the private placement.

What is the warrant exercise price in Wi2Wi's (ISEYF) November 2024 private placement?

The warrant exercise price is $0.10 per share for a period of two years from closing.

What is the acceleration clause trigger price for Wi2Wi's (ISEYF) warrants?

The acceleration clause is triggered if shares trade at or above $0.10 for 10 consecutive trading days.