TSX-V Symbol: HELX
VANCOUVER, BC, March 19, 2021 /CNW/ - Helix Applications Inc. (TSXV: HELX) (the "Company" or "Helix") is pleased to announce that it intends to complete a non-brokered private placement of up to 2,000,000 common shares of the Company at a price of CAD$1.50 per share for gross proceeds of up to CAD$3,000,000 (the "Private Placement").
The Private Placement is subject to the approval of the TSX Venture Exchange (the "Exchange"). The securities issued in connection with the Private Placement will be subject to a four-month hold period, in accordance with applicable securities laws.
The Company intends to use the proceeds from the Private Placement to continue the development of its blockchain focused business, as well as for general and administrative expenses.
The Company may pay a commission or finder's fee (in cash and/or securities) to eligible parties in connection with the Private Placement, subject to the approval of the Exchange and compliance with applicable securities laws.
Helix is a blockchain application and technologies developer, listed on the TSX Venture Exchange (TSX Venture: HELX).
Additional information about the Company is available on SEDAR at www.sedar.com under the Company's profile.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this news release constitutes forward-looking statements or information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the completion of the proposed Private Placement, the anticipated use of proceeds, and other information concerning future events or the intentions, plans and future action of the Company that may be described herein, and other information concerning the intentions, plans and future action of the Company and its technologies and products described herein. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's most recent management's discussion and analysis, a copy of which is filed on SEDAR at www.SEDAR.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.