Newnote Financial announces non-brokered financing
Vancouver, British Columbia (FSCwire) - Newnote Financial Corp. (the “Company”), (CSE: NEU; OTCQB: NWWTF; FSE: 1W4) is proposing a non-brokered private placement offering of up to a maximum of 2,000,000 common shares ("Common Shares") of the Company at a subscription price of $0.15 per Unit are to be offered. Unit is comprised of one common share (“Common Share”) in the capital of the Issuer and one common share purchase warrant (“Warrant”) where each whole Warrant entitles the holder to purchase one additional common share (“Warrant Share”) at an exercise price of $0.20 per Warrant Share until 4:00 p.m. (Vancouver time) on the first business day after the date that is one year from the closing date of the offering of the Units subject to accelerated expiry where if at any time after the closing date of the offering of the Units the closing sales price of the Common Shares (or the closing bid, if no sales were reported on a trading day) as quoted on the Canadian Securities Exchange (or such other stock exchange, quotation system or market on which the Common Shares are listed and where a majority of the trading volume of the Common Shares occurs) is $0.30 or higher for a period of 10 consecutive trading days, then the Company may, within five days of such event, provide notice by way of press release to the holder of the Warrants of the early expiry of the Warrants, and thereafter the Warrants shall expire on that date that is 30 days from the date that such notice is given.
The proceeds of the private placement will be used for the continuation of the company’s work on existing products and services, launch of new products and services, potential acquisitions, marketing initiatives and general working capital. The securities in the private placement will be subject to a holding period of four months from the closing date of the private placement.
Certain Insiders, Directors and Officers may subscribe for a portion of this placement.
In addition, independent director Derrick Strickland has resigned as director; we thank him for his contributions to the organization.
About Newnote Financial Corp.
Newnote Financial Corp. is pioneering innovative crypto-currency and Bitcoin related software products and services geared at the growing business segment of this bourgeoning market. Newnote has positioned itself to be a leading contender in delivering opportunities to startup businesses world-wide and continues to create new opportunities for its clients and its shareholders. Newnote has a clear vision on the direction in which this new and unique business is headed and is continually adjusting and adopting new business practices in both technology and the policies & procedures required by banks and securities regulators.
Newnote Financial Contact Information
President, CEO & Director
Newnote Financial Corp.
CSE: NEU; OTCQB: NWWTF; FSE: 1W4
Suite 709-700 West Pender Street
Vancouver, BC V6C 1G8
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Newnote Financial Corp. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the content of this press release.
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Source: Newnote Financial Corp. (CSE:NEU, OTC Pink:NWWTF) http://www.winrockresources.com/
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