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Each Unit was comprised of one common share (each, a “Share”) in the capital of the Company and one transferable Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share (each, a “Warrant
The proceeds of the Offering will be used for thepayment for production, shipping and storage of 500 swimboards, trade show costs, marketing and general working capital. The securities issued in connection with the Offering are subject to a four month hold period from the date of issuance.
In connection with the Offering, and in accordance with the policies of the Canadian Securities Exchange (“CSE”), the Company paid a registrant a finder’s fee comprised of a cash fee equal to 8%of the gross proceeds received by the Company from subscribers introduced by the finder(
None of the securities acquired in the Offering were or will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in
About SWMB
By offering an aquatic board sport that is versatile, easy to use, easy to store, and which can be used by all ages and body types in any body of water (rivers, oceans, lakes and pools), the Company believes SWMBRD and the sport of swim boarding has the potential to become one of the most popular board sports in the world, and a great aquatic brand.
The Company has refined manufacturing techniques most relevant to the SWMBRD and has successfully produced demonstration fleets of fully functioning boards, which have been in rigorous real-world use in
For further information please contact:
www.swmbrd.com
E-mail: justin.schroenn@swmbrd.com
Telephone: 778-870-1497
E-mail: matthew.schroenn@swmbrd.com
Telephone: 604-375 4664
E-mail: gareth.schroenn@swmbrd.com
Telephone: 604-339-2721
Forward‐Looking Statements
This news release contains forward‐looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward looking statements. Forward looking statements in this news release include statements regarding: the closing of the Offering, including planned use of proceeds of the Offering; the expectation that the sport of swim boarding may become one of the most popular board sports in the world, and SWMBRD a great aquatic brand; and that the Company will complete large scale mass production and sale of its SWMBRD. The forward‐looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward‐looking statements. Although the Company believes that the assumptions inherent in the forward‐looking statements are reasonable, forward‐looking statements are not guarantees of future performance and, /accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the Company may decide to use the proceeds of the Offering differently than as disclosed; the sport of swim boarding may not become as widely adopted or popular as expected, and SWMBRD may not achieve any commercial success or become a known brand; and that the Company may fail to complete large scale mass production and sale of its SWMBRD as anticipated or at all; general market conditions may impact the Offering and/or the business of the Company; factors related to the ongoing COVID‐19 pandemic may impact the Offering and/or the business of the Company; and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Copyright (c) 2023 TheNewswire - All rights reserved., source