/NOT FOR DISTRIBUTION OR DISSEMINATION IN
THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION
MAY CONSTITUTE A VIOLATION OF UNITED
STATES SECURITIES LAWS/
TSX-V Symbol: HELX
VANCOUVER, BC, April 5, 2021 /CNW/ - Helix Applications
Inc. (TSXV: HELX) (the "Company" or "Helix") is
pleased to announce that it has completed its previously announced
non-brokered private placement for aggregate gross proceeds of
CAD$3,000,000 (the "Private
Placement"). In connection with the Private Placement,
2,000,000 common shares of the Company ("Shares") were
issued at a price of CAD$1.50 per
Share.
The securities issued in connection with the Private Placement
are subject to a four-month hold period, in accordance with
applicable securities laws.
The Company intends to use the proceeds from the Private
Placement to continue the development of its blockchain focused
business, as well as for general and administrative expenses.
In connection with the Private Placement, the Company has agreed
to pay Smaller Company Capital Ltd. ("SCC") a cash finder's
fee equal to 7% of the gross proceeds raised in respect of the
aggregate sales to subscribers under the Private Placement that
were introduced by SCC ($210,000). In
addition the Company issued to SCC a finder's option to acquire up
to 7% of the number of Shares issuable under the Private Placement,
related to the gross proceeds raised in aggregate sales under the
Private Placement that were introduced by SCC (a finder's option to
acquire up to 140,000 Shares). This finder's option expires 24
months from the date of issuance and has an exercise price of
CAD$1.50 per Share.
ABOUT HELIX
Helix is a blockchain application and technologies developer,
listed on the TSX Venture Exchange (TSX Venture: HELX).
Additional information about the Company is available on SEDAR
at www.sedar.com under the Company's profile.
This press release is not an offer of the Company's
securities for sale in the United
States. The Company's securities may not be offered or sold
in the United States absent
registration or an available exemption from the registration
requirements of the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act") and applicable U.S. state securities laws.
The Company will not make any public offering of its securities in
the United States. The Company's securities have not been and
will not be registered under the U.S. Securities Act.
This press release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any sale
of these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
Certain information set out in this news release constitutes
forward-looking statements or information. Forward looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "plan", "continue", "estimate",
"expect", "may", "will", "intend", "could", "might", "should",
"believe" and similar expressions. In particular, this news release
contains forward-looking statements in respect of among other
things, the anticipated use of proceeds of the Private Placement,
and other information concerning future events or the intentions,
plans and future action of the Company that may be described
herein, and other information concerning the intentions, plans and
future action of the Company and its technologies and products
described herein. Forward-looking statements are based upon the
opinions and expectations of management of the Company as at the
effective date of such statements and, in certain cases,
information provided or disseminated by third parties. Although the
Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
and that information obtained from third party sources is reliable,
they can give no assurance that those expectations will prove to
have been correct. Readers are cautioned not to place undue
reliance on forward-looking statements included in this document,
as there can be no assurance that the plans, intentions or
expectations upon which the forward-looking statements are based
will occur. By their nature, forward-looking statements involve
numerous assumptions, known and unknown risks and uncertainties
that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur,
which may cause actual results in future periods to differ
materially from any estimates or projections of future performance
or results expressed or implied by such forward-looking statements.
These risks and uncertainties include, among other things, risk
factors set forth in the Company's most recent management's
discussion and analysis, a copy of which is filed on SEDAR at
www.SEDAR.com, and readers are cautioned that the risk factors
disclosed therein should not be construed as exhaustive. These
statements are made as at the date hereof and unless otherwise
required by law, the Company does not intend, or assume any
obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Helix Applications Inc.