VANCOUVER, BC / ACCESSWIRE / August 17, 2017 / Mezzi Holdings Inc. (the "Company" or "Mezzi") (OTC PINK: CCTXF); (TSX-V: MZI), (FRA: 0MZ) announces the closing of its previously announced private placement (the "Private Placement") (see news release dated July 18, 2017) totaling $525,000. These funds were raised by the Company issuing 70,000,000 ("Units") at a price of $0.0075 per Unit, on a pre-consolidated basis. Each Unit consists of one common share and one common share purchase warrant (a "Warrant") entitling the holder thereof to purchase one additional common share for a period of 24 months from the closing date at a post-consolidated price of $0.10.
In connection with the Private Placement, the Company paid aggregate cash commissions of $29,371.65 and issued 391,622 broker's warrants, each such broker's warrant entitling the holder to acquire one common share of Mezzi at $0.10 for a period of two years from the closing date.
All shares, together with any shares that may be issued on exercise of the Warrants and broker's warrants, will be subject to a hold period expiring on December 16, 2017.
The net proceeds of the private placement will be used by the Company for working capital purposes and for additional business opportunities, which may include investments in the cannabis, blockchain/cryptocurrency or e-commerce industries.
The Company also announces that it has received TSX Venture Exchange approval for its 10:1 share consolidation announced July 17, 2017. The Company's shares will trade on a post-consolidated basis effective Friday, August 18, 2017. There is no change in the trading symbol for Mezzi. Letters of transmittal describing the process by which shareholders may obtain new certificates representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders holding their shares through a broker or other intermediary and consequently not having shares registered in their name will not be required to complete a letter of transmittal.
Following consolidation and subject to rounding, Mezzi will have 16,273,099 issued and outstanding common shares.
ON BEHALF OF THE BOARD
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. There is no assurance the Company will be successful in entering into any new business opportunities. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
SOURCE: Mezzi Holdings Inc.