Siyata Mobile Closes CDN$4.6 Million to Brokered Private Placement of Unsecured Convertible Debentures

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MONTRÉAL, Dec. 29, 2017 — Further to its news release dated December 13, 2017, Siyata Mobile Inc. (the “Company” or “Siyata“) (TSX-V:SIM)  (OTCQX:SYATF) is pleased to announce that it has closed its previously announced brokered private placement financing for gross proceeds of CDN$4.6 Million through the issuance of unsecured convertible debentures (the “Convertible Debentures”) at a price of CDN$1,000.00 per Convertible Debenture (the “Offering”). The Offering was completed through a syndicate with PI Financial Corp., as lead agent, and including Beacon Securities Limited and Paradigm Capital Inc. (the “Agents”).
Marc Seelenfreund, Chairman and Chief Executive Officer of Siyata commented, “We are very pleased with the efforts of our syndicate partners, resulting in an oversubscription of our financing. The proceeds will assist Siyata in achieving our aggressive 2018 goal of becoming a major force in the global Push to Talk Cellular Market.”Each Convertible Debenture will be convertible into 1,667 common shares in the capital of the Company representing approximately CDN$0.60 (the “Conversion Price”) per Common Share, subject to adjustment in certain events.Each Convertible Debenture will bear interest at a rate of 10.5% per annum from the date of issue, payable in cash quarterly in arrears. Any unpaid interest payments will accrue and be added to the principal amount of the Convertible Debenture.The Convertible Debentures will mature on June 28, 2020 (the “Maturity Date”) and are convertible into common shares at the Conversion Price, at the option of the holder, at any time prior to the close of business on the earlier of: (i) the last business day immediately preceding the Maturity Date, and (ii) the date fixed for redemption in the event of a change of control.Each purchaser also received one (1) non-transferrable share purchase warrant (each, a “Warrant”) for each CDN$1.00 principal amount of Convertible Debentures purchased by such purchaser. Each Warrant entitles the holder to acquire one further common share (each, a “Warrant Share”) at an exercise price of CDN$0.70 per Warrant Share for a period of two years. The Agents received an aggregate of  536,666 common shares of the Company in consideration of the services provided by the Agents.All securities issued pursuant to the Offering are subject to a statutory hold period expiring on April 29, 2018. Net proceeds of the Offering will be used to fund general working capital and repay and close the credit facilities of Signifi Mobile Inc. (a wholly owned subsidiary of the Company) with the National Bank of Canada and with Business Development Bank of Canada and discharge the existing security over the assets of the borrower related thereto.About SiyataVisit www.siyatamobile.com and http://www.unidencellular.com/ to learn more.On Behalf of the Board of Directors of:SIYATA MOBILE INC.Marc Seelenfreund
CEO and Chairman
Investor Relations:
Arlen Hansen
Kin Communications
1-866-684-6730
[email protected]
PCG Advisory Group:
Kirin Smith, Chief Operating Officer
646.863.6519
[email protected]
Sales Department:
Glenn Kennedy, VP Sales
Siyata Mobile Inc.
416-892-1823
[email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

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