Voxtur Announces Closing Date of $35 Million Private Placement
03/09/2021 | 02:30pm EDT
Not for distribution to U.S. news wire services or dissemination in the United States.
TORONTO, March 09, 2021 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV:VXTR) (“Voxtur” or “the Company”) is pleased to announce that, further to the Company's news releases issued on February 25, 2021 and March 1, 2021, the Company has received conditional approval from the TSX Venture Exchange of its fully subscribed non-brokered private placement (the “Private Placement”) of common shares of the Company, for gross proceeds of $35,000,000 and expects to close on Thursday, March 11, 2021.
Under the terms of the Private Placement, a total of 50,000,000 common shares were purchased at $0.70. Net proceeds will be used for future growth opportunities, general working capital and debt repayment as disclosed in the Company’s news release dated February 25, 2021.
The common shares issued under the Private Placement shall be subject to a restrictive hold period of four months and one day from the date of the closing. The Company has received the conditional approval of the Private Placement from the TSX Venture Exchange.
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. Voxtur leverages its proprietary data hub and workflow platforms to provide transparency in property valuation and tax assessment and automate processes throughout the lending lifecycle from origination to default and liquidation. This allows Voxtur’s clients to more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. Our innovative platform aggregates complementary data sets and layers in business intelligence to generate targeted analytics and assist in the provision of technology-managed services to the property lending and property tax sectors, both public and private, in the United States and Canada. Voxtur is a brand built on innovation, execution and forward-thinking products and services.
Voxtur’s common shares are traded on the TSX Venture Exchange under the symbol VXTR.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer’s business, capital, technology or operations that is prospective in nature, and includes future-oriented financial information about the issuer’s prospective financial performance or financial position. The forward-looking information in this news release includes disclosure about the Private Placement, including the terms and timing thereof and the proposed use of proceeds. The Company made certain material assumptions, including but not limited to prevailing market conditions and general business, economic, competitive, political and social uncertainties to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Actual results may vary from the forward-looking information in this news release due to certain material risk factors described in the Company’s public filings under its profile at www.sedar.com and the risk that changing circumstances will result in the proceeds being used in a manner other than as set forth herein. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
Neither the 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 of this release.
Gary Yeoman, CEO