Unisync Announces Non-Brokered Private Placement Financing
December 19 2019 - 8:00AM
Unisync Corp. (TSX:UNI) ("
Unisync" or the
"
Corporation") is pleased to announce a proposed
non-brokered private placement offering ("
the
Offering") for gross proceeds of up to $3,000,000. The
Offering will consist of up to 909,091 Common Shares (each a
"
Share") at a price of $3.30 per Share.
The net proceeds of the Offering will be used
for expenditures related to the Corporation’s expansion into the
United States and for general working capital purposes.
Unisync shall pay finder's fees of 6% in cash on
the gross proceeds of the Offering to eligible persons. The
offering is scheduled to close on or about December 30, 2019 and is
subject to the approval of the Toronto Stock Exchange. All
securities issued under the offering will be subject to hold
periods expiring four months and one day after the date of
issuance. Additional restrictions may apply to securities
issued to United States purchasers.
Unisync has retained Acumen Capital Finance
Partners Limited as Financial Advisor for the Private
Placement.
This news release does not constitute an offer
to sell, or solicitation of an offer to buy, nor will there be any
sale of any of the securities offered in any jurisdiction where
such offer, solicitation or sale would be unlawful, including the
United States of America. The securities being offered as part of
the Offering 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 accordingly may
not be offered or sold in the United States except in compliance
with the registration requirements of the U.S. Securities Act and
any applicable state securities laws, or pursuant to available
exemptions therefrom.
ABOUT UNISYNC Unisync
operates through two business units: Unisync Group Limited (“UGL”)
with its North American head office in Mississauga, Ontario and
Peerless Garments LP based in Winnipeg, Manitoba (“Peerless”). UGL
is a leading customer-focused provider of corporate apparel,
serving many leading Canadian and American iconic brands through
operations in both Canada and the US. Peerless specializes in the
production and distribution of highly technical protective
garments, military operational clothing and accessories for a broad
spectrum of Federal, Provincial and Municipal government
departments and agencies.
The combined operations of UGL and Peerless
represent a vertically integrated North American enterprise with
exceptional capabilities in garment design, domestic manufacturing
and off-shore outsourcing, including state-of-the-art web based
B2B ordering, distribution and program management systems.
Forward-Looking Information
This news release may contain forward-looking statements that
involve known and unknown risk and uncertainties that may cause the
Corporation’s actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied in these forward-looking
statements and include closing risks and the risks disclosed in the
Corporation’s most recent management’s discussion and analysis and
annual information form filed on SEDAR. These forward-looking
statements include the expected size and completion date of the
Offering. Any forward-looking statements contained herein are made
as of the date of this news release and are expressly qualified in
their entirety by this cautionary statement. Except as required by
law, the Corporation undertakes no obligation to publicly update or
revise any such forward-looking statements to reflect any change in
its expectations or in events, conditions or circumstances on which
any such forward-looking statements may be based, or that may
affect the likelihood that actual results will differ from those
set forth in the forward-looking statements.
For more information on our capabilities,
products and services please visit our website
at www.unisyncgroup.com.
On Behalf of the Board of Directors
Matthew Graham, CEO
Investor relations contact: Douglas F Good at
778-370-1725 Email: dgood@unisyncgroup.com
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this release.
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