ProStar Holdings Announces Non-Brokered Private Placement
ProStar Holdings Inc. (OTCQB: MAPPF) has announced a non-brokered private placement to raise up to C$2,000,000. The offering consists of up to 12,500,000 units at C$0.16 per unit, with each unit comprising one common share and one purchase warrant. Warrants are exercisable at C$0.22 for 36 months, with an acceleration clause if shares trade at C$0.30 or higher for 10 consecutive days. Proceeds will fund sales, marketing, and working capital. Company directors and officers will participate, constituting a related party transaction exempt from formal valuation and minority shareholder approval. The offering is subject to regulatory and TSXV approval, with securities having a 4-month hold period.
ProStar Holdings Inc. (OTCQB: MAPPF) ha annunciato un collocamento privato non mediato per raccogliere fino a 2.000.000 CAD. L'offerta consiste in massimo 12.500.000 unità a 0,16 CAD per unità, con ogni unità composta da un'azione ordinaria e un warrant di acquisto. I warrant sono esercitabili a 0,22 CAD per 36 mesi, con una clausola di accelerazione se le azioni vengono scambiate a 0,30 CAD o più per 10 giorni consecutivi. I proventi finanzieranno le vendite, il marketing e il capitale circolante. I direttori e gli ufficiali dell'azienda parteciperanno, costituendo una transazione con parti correlate esente da valutazione formale e approvazione degli azionisti di minoranza. L'offerta è soggetta all'approvazione regolamentare e di TSXV, con titoli che hanno un periodo di bloccaggio di 4 mesi.
ProStar Holdings Inc. (OTCQB: MAPPF) ha anunciado una colocación privada no intermediada para recaudar hasta 2.000.000 CAD. La oferta consiste en un máximo de 12.500.000 unidades a 0,16 CAD por unidad, con cada unidad que comprende una acción común y un warrant de compra. Los warrants son ejercitables a 0,22 CAD durante 36 meses, con una cláusula de aceleración si las acciones se negocian a 0,30 CAD o más durante 10 días consecutivos. Los ingresos financiarán ventas, marketing y capital de trabajo. Los directores y funcionarios de la compañía participarán, constituyendo una transacción con partes relacionadas exenta de valoración formal y aprobación de accionistas minoritarios. La oferta está sujeta a la aprobación regulatoria y de TSXV, con valores que tienen un período de retención de 4 meses.
ProStar Holdings Inc. (OTCQB: MAPPF)는 최대 2,000,000 CAD를 모금하기 위한 비중개 사모 배급을 발표했습니다. 이 제안은 각 단위가 하나의 보통주와 하나의 구매 워런트로 구성된 최대 12,500,000 단위로 0.16 CAD에 제공됩니다. 워런트는 0.22 CAD로 36개월 동안 행사 가능하며, 주식이 10일 연속으로 0.30 CAD 이상 거래될 경우 가속 조항이 적용됩니다. 수익금은 판매, 마케팅 및 운영 자본을 지원합니다. 회사의 이사와 임원들이 참여하여, 이는 공식 평가 및 소수주주 승인에서 면제되는 관련자 거래를 구성합니다. 이 제안은 규제 및 TSXV 승인을 받으며, 유가는 4개월의 보유 기간이 있습니다.
ProStar Holdings Inc. (OTCQB: MAPPF) a annoncé une placement privé sans intermédiaire pour lever jusqu'à 2 000 000 CAD. L'offre se compose de jusqu'à 12 500 000 unités à 0,16 CAD par unité, chaque unité comprenant une action ordinaire et un bon de souscription. Les bons de souscription sont exerçables à 0,22 CAD pendant 36 mois, avec une clause d'accélération si les actions se négocient à 0,30 CAD ou plus pendant 10 jours consécutifs. Le produit servira à financer les ventes, le marketing et le fonds de roulement. Les administrateurs et les dirigeants de la société participeront, constituant une transaction entre parties liées qui est exemptée d'évaluation formelle et d'approbation des actionnaires minoritaires. L'offre est soumise à l'approbation réglementaire et de TSXV, les titres ayant une période de blocage de 4 mois.
ProStar Holdings Inc. (OTCQB: MAPPF) hat eine nicht vermittelte Privatplatzierung angekündigt, um bis zu 2.000.000 CAD zu beschaffen. Das Angebot besteht aus bis zu 12.500.000 Einheiten zu je 0,16 CAD, wobei jede Einheit aus einer Stammaktie und einem Kauf-Warrant besteht. Warrants sind für 36 Monate zu 0,22 CAD ausübbar, mit einer Beschleunigungsklausel, wenn die Aktien 10 aufeinanderfolgende Tage bei 0,30 CAD oder höher gehandelt werden. Die Erlöse werden Verkaufs-, Marketing- und Betriebskapital finanzieren. Die Direktoren und leitenden Angestellten des Unternehmens werden teilnehmen, was eine Transaktion mit nahestehenden Parteien darstellt, die von einer formalen Bewertung und der Genehmigung von Minderheitengesellschaftern befreit ist. Das Angebot steht unter dem Vorbehalt der behördlichen Genehmigung und der Genehmigung durch die TSXV, wobei Wertpapiere eine Haltefrist von 4 Monaten haben.
- Potential to raise up to C$2,000,000 in capital
- Proceeds to be used for sales, marketing, and working capital
- Insider participation in the offering, showing management confidence
- Potential dilution for existing shareholders due to new share issuance
- Offering price of C$0.16 per unit may be below current market price
- Subject to regulatory and TSXV approval, which could delay or prevent the offering
GRAND JUNCTION, Colo., Sept. 09, 2024 (GLOBE NEWSWIRE) -- (OTCQB: MAPPF) (TSXV: MAPS) (FSE: 5D00) ProStar Holdings Inc. (the "Company" or "ProStar®") a world leader in Precision Mapping Solutions®, is pleased to announce a non-brokered private placement for gross proceeds of up to C
The Offering will consist of up to 12,500,000 units of the Company (each, a "Unit", and collectively the "Units") at a price of C
The Company will use the proceeds of the Offering for sales, marketing and working capital requirements.
Directors and officers of ProStar will participate in the Offering for a yet to be determined amount. Any such participation in the Offering will constitute a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“61-101”). The Offering will be exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities is expected to exceed
The securities issued in the Offering will be subject to applicable hold periods imposed under applicable securities legislation, including a hold period of 4 months and one day from the date of issuance. The Company may pay a finder’s fee on a portion of the gross proceeds of the Offering. The Offering remains subject to regulatory approval and the approval of the TSX Venture Exchange (the “TSXV”).
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of any of the securities described in this news release in any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction or an available exemption therefrom. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any applicable securities laws of any state of the United States, 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 any applicable securities laws of any state of the United States or pursuant to an exemption from such registration requirements.
About ProStar:
ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by further integrating the most modern GPS, cloud, and mobile technologies in Precision Mapping Solutions. ProStar is a software development and solution provider company specializing in developing cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan®, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.
ProStar’s PointMan® is offered as a Software as a Service (SaaS) and seamlessly connects the field with the office and provides the ability to precisely capture, record, display, and manage critical infrastructure, including pipelines, and utilities. Some of the largest entities in North America have adopted ProStar’s Precision Mapping solutions, including Fortune 500 construction firms, Subsurface Utilities Engineering (SUE) firms, utility owners, and government agencies. ProStar has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and dealer networks.
The Company has made a significant investment in creating a vast intellectual property portfolio that includes several issued patents in the United States and Canada. The patents protect the methods and systems to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines. ProStar’s Executive management team has extensive experience in the management of both early-stage and Fortune 500 technology companies in the private and public sectors.
For more information about ProStar, please visit www.prostarcorp.com.
On behalf of the Company,
Page Tucker on sales / corporate news releases, CEO and Director
Contact:
Investor Relations
970-242-4024 – Opt. 4
Investorrelations@prostarcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the terms of the Offering, the anticipated use of proceeds of the Offering, the securities issuable under the Offering and participation of insiders in the Offering. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will complete the Offering, use the proceeds of the Offering as currently anticipated, that the Company will receive approval from the TSXV in connection with the Offering and that insiders of the Company will participate in the Offering.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the required regulatory approvals or approval from the TSXV in connection with the Offering, that the Company will not use the proceeds of the Offering as currently anticipated and that insiders of the Company will not participate in the Offering.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
FAQ
What is the size and price of ProStar Holdings' (MAPPF) private placement offering?
What are the terms of the warrants in ProStar Holdings' (MAPPF) private placement?
How will ProStar Holdings (MAPPF) use the proceeds from the private placement?
Will ProStar Holdings (MAPPF) insiders participate in the private placement?
