On September 9, 2021, ICEsoft Technologies Canada Corp. (CSE: ISFT) (“ICESoft”) announced the closing of its strategic non-brokered private placement of 32,000,000 units at C$0.05 per unit for gross cash proceeds of C$1,500,000 and the settlement of C$100,000. Each unit consists of (i) one common share in the capital of the Company (each, a “Common Share”), and (ii) one Common Share purchase warrant (each full warrant, a “Warrant”), with each Warrant entitling the holder to subscribe for one additional Common Share at an exercise price of C$0.08 per share at any time prior to the day that is 36 months from the grant of the Warrant.
The private placement was led by I Shen Capital Fund I L.P., through its General Partner, Shen Capital Management Inc. which subscribed for C$1,300,000 of units.
ICEsoft is a software-as-a-service company (“SaaS”), whose software (also available as freeware with a pay to use version), is used by developers, companies and other customers, to provide advanced notification and RIA solutions for desktop and mobile enterprises.
We advised ICESoft with a team led by Samuel Li and included Leo Daniels (Corporate Finance).
Jurisdiction
- British Columbia
