VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 1, 2017) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
DuSolo Fertilizers Inc., (TSX VENTURE:DSF) (“DuSolo” or “the Company”) is pleased to announce that it has closed the first tranche of its non-brokered private placement (the “Private Placement“) previously announced on May 3, 2017.
Giles Baynham, Chief Executive Officer, noted that “the Company is pleased to close this first tranche, which allows the Company to continue the expansion of its operations in Brazil. We have also received commitments to date for an additional $2.0 million, and expect the balance of the financing to be closed by June 10, 2017. We are very grateful to our existing shareholders for their strong support.”
The first tranche closing consists of a total of C$631,065 raised through the issuance of 21,035,500 common shares (the “Common Shares“) of the Company at a price of C$0.03 per Common Share. All Common Shares issued in connection with the first tranche of the Private Placement will be subject to a four month hold period expiring on October 1, 2017. The Company has paid a finder’s fee of $37,863.90 in cash and has issued 1,262,130 finder’s warrants, valid for two years, to purchase a Common Share at $0.03, on the amounts raised in the first tranche of the Private Placement.
At the Company’s annual general meeting on May 18, 2017, the Company’s shareholders approved the previously announced consolidation of the Company’s shares on a 10 old for 1 new share basis. The Company intends to proceed with the consolidation following the closing of the final tranche of the Private Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
On behalf of DuSolo Fertilizers Inc.
Giles Baynham, Chief Executive Officer
Forward-looking statements
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of DuSolo which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and DuSolo 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 expressly required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
