FEBRUARY 1ST 2021 – TheNewswire – Vancouver, BC. – Softlab9 Technologies Inc. (CNSX:SOFT.CN) (Frankfurt:APO2) (OTC:SOFSF) (“Softlab9” or the “Company”), is pleased to announce a non-brokered private placement (the “Offering”) of up to 7,500,000 units (the “Units”) at a price of $0.40 cents per Unit for gross proceeds of $3,000,000.
Each Unit is comprised of one common share of the Company (“Common Share”) and one-half Common Share purchase warrant (“Warrant”). Each whole warrant will entitle the holder to acquire one additional Common Share at a price of $0.70 per share for a period of eighteen months from issuance.
Following the expiry of the resale restrictions on the Units, if the closing price of the Common Shares on the Canadian Securities Exchange (“CSE”) for 10 consecutive trading days (or the average of the bid and ask prices if not traded) is equal to or greater than $1.00 per share, the Company may accelerate the expiry time of the Warrants by giving written notice within 10 days to Warrant holders that the Warrants will expire 30 days from the effective date of the notice.
The Company may pay finders’ fees on the Offering, in accordance with applicable securities laws and the policies of the CSE. The securities underlying the Units will be subject to a four-month hold period from the date of distribution.
The Offering is being completed in conjunction with the plan of arrangement agreement dated November 20, 2020 between Softlab9 and Clean Go Green Go Inc. (“CleanGo GreenGo”).
About CleanGo GreenGo
CleanGo GreenGo is an FDA and Health Canada approved Manufacturer of Green, Non-Toxic, and Biodegradable suite of cleaning products for industrial, commercial and consumer markets. CleanGo GreenGo, also manufactures hand sanitizer gel and wipes which are sold throughout the USA and Canada.
The active ingredient in CleanGo GreenGo‘s proprietary solution was tested in 2015 by the US EPA and found effective against viruses and bacteria’s including the Human Coronavirus on a hard surface. CleanGo’s products are sold on various online platforms, including Amazon, as well as through distribution in retail, wholesale, and government agencies. CleanGo GreenGo utilizes a Patent Pending IP. The Patent was filed with the United States Patent and Trademark Office in February 2020 and currently holds a Patent Pending Status.
About SoftLab9
SoftLab9 Technologies Inc. is an international publicly traded company that specializes in the development of early staged companies. We provide access to capital, executive management, and industry experience to grow our portfolio of companies.
SoftLab9’s experienced team bring new ideas and innovation based on science to find solutions to the current world we live in. Customers rely on quality, nontoxic products to keep their homes clean and their loved ones safe.
For further information please contact:
Rahim Mohamed
Chief Executive Officer
Phone: (403) 605-9429
Anthony Sarvucci
Chief Executive Officer
(403) 401-2912
Paul Searle
Corporate Communications
Citygate Capital Corp
Phone: (778) 240-7724
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this presentation that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations, and orientations regarding the future, including without limitation statements related to the completion of the Offering. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, proposes” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements are based on certain assumptions by management regarding the Company, including, without limitation, the Company’s ability to complete the Offering. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to the inability of the Company, to, among other things, obtain any required governmental, regulatory, or stock exchange approvals, permits, consents or authorizations required to execute its proposed business plans, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the Company’s operations may also adversely affect the future results or performance of the Company. The Company can provide no guarantee that it will be successful in completing the Offering or the acquisition of CleanGo GreenGo. Investors are cautioned that forward looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.
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