Smartset Services Inc. (TSXV:SMAR.P) will seek assets acquisition. Smartset has arranged a private placement of up to 3.5 million common shares at 10 cents per share for gross proceeds of up to $350,000 subject to final TSX Venture Exchange approval. Proceeds from the placement will be used for audit, legal and general working capital, due diligence costs related to identifying and evaluating assets or businesses for a potential qualifying transaction, financing or partially financing the acquisition of significant assets in connection with a qualifying transaction, or for working capital after completion of a qualifying transaction.

In the event that a proposed qualifying transaction is identified, a portion of the private placement proceeds may be used as an advance to the target company for the purposes of preserving its assets prior to closing of the transaction.