Toronto, Ontario–(Newsfile Corp. – February 28, 2019) – Spacefy Inc. (CSE: SPFY) (“Spacefy” or the “Company”) is pleased to announce that it has completed its previously announced private placement offering of units (each a “Unit”) for gross proceeds of $1,409,400 (the “Financing”), for a total issue of 7,047,000 Units. Each Unit is comprised of one common share, and one common share purchase warrant exercisable for a period of twenty-four months from closing at a price of $0.40 per share. Leede Jones Gable Inc. as lead agent and members of the selling group receive a total commission of $84,564 in cash and 422,280 agent’s compensation options, each exercisable at $0.20 into a Unit. Proceeds will be used for execution of the Company’s business plan. Following the closing, Spacefy has 45,267,106 common shares issued and outstanding.
“We are pleased with this result, and extremely gratified at the investment community’s ongoing interest in Spacefy,” said Spacefy’s new CEO, Russ Patterson. “This additional capital will help us to deliver product platform improvements sooner than planned, and to accelerate the pace of our business development and targeted marketing campaigns. Spacefy also announced today that the Board of Directors has approved resolutions adding Patterson as a Director, and accepting Brad Scharfe’s resignation as a Director.
Spacefy is a marketplace that connects creative professionals with spaces for their projects, productions, and events. Harnessing the power of the sharing economy, Spacefy gives creative professionals access to unique and underutilized spaces while enabling property owners to further monetize their space.
Contact Information Spacefy Inc.
Chief Executive Officer
Adelaide Capital Markets Inc.