VANCOUVER, BC / ACCESSWIRE / December 19, 2017 / Mezzi Holdings Inc. ("Mezzi", or the "Company") (OTC PINK: CCTXF, TSX-V: MZI, FSE: 0MZ) announces that further to its news release of November 24, 2017, it intends to close on an initial tranche of $350,000 of its non-brokered private placement, through the issuance of 1,750,000 units of the Company at a price of $0.20 per unit. Each unit will comprise one common share ("Shares") and one-half of one share purchase warrant ("Warrants"), each whole Warrant entitling the holder to acquire one additional Share at $0.35 for a period of 12 months (subject to acceleration). The Company intends to close the balance of the $3,000,000 financing before year end and has received completed subscription agreements for the full balance.
The Company wishes to clarify its earlier disclosure regarding its intention to make an initial investment in a private blockchain technology company. No definitive documentation has yet been signed by the parties, and there is no certainty that such documentation will be signed. The private company being pursued ("Target") has developed a technology that provides an "auditing platform" for various on-line transactions. Mezzi feels the technology can be adapted for use in on-line retailing, its current business focus.
The Company further clarifies that the net proceeds of the private placement will be used by the Company for (i) working capital purposes, (ii) to pursue and make an investment in the Target, and (iii) for business opportunities or investments which pertain to or enhance the Company's core business. Any proposed transaction outside of the Company's core business may require a full change of business application with the TSXV.
Closing of the private placement is subject to receipt of all necessary regulatory approvals, including approval of the Exchange. Finders' fees may be paid in connection with the offering.
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 completing its proposed private placement, or 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.