- Announced it has completed an oversubscribed non-brokered private placement of 4,027,779 units of the Company at a price of $0.21 per Unit, for aggregate gross proceeds of $845,833.
- Each Unit is comprised of one common share in the capital of the Company and one-half of one Common Share purchase warrant
Toronto, Ontario–(January 11, 2021) – Universal PropTech Inc. (TSXV: UPI) (“UPI” or the “Company“) wishes to announce it has completed an oversubscribed non-brokered private placement (the “Offering“) of 4,027,779 units of the Company (“Units“) at a price of $0.21 per Unit, for aggregate gross proceeds of $845,833. Each Unit is comprised of one common share in the capital of the Company (a “Common Share“) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.30 for a period of two years from the date of issuance.
The Company paid an aggregate cash commission of $67,666 representing 8% of the gross proceeds of the Offering introduced by the finders. In addition, the Company issued 322,222 compensation options of the Company (“Compensation Options”) to the finders representing 8% of the number of Units sold to subscribers introduced by the finders. Each Compensation Option entitles the holder thereof to purchase a Unit for $0.21 for a period of two years from the date of issuance. Foundation Markets Inc. was engaged as the Company’s exclusive finder in connection with the Offering.
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