VANCOUVER, British Columbia — Astron Connect Inc. (“Astron” or the “Company”) (TSX-V:AST) is pleased to announce that the Company has closed a non-brokered private placement (the “Private Placement”), previously announced on December 11, 2019. The Company will issue 30,000,000 units (each a “Unit”) at a price of $0.05 per Unit for gross proceeds of $1,500,000. Each Unit will consist of one Astron common share (the “Shares”) and one common share purchase warrant (the “Warrants”). Each Warrant will be exercisable to acquire one Share at a price of $0.05 each for a period of one year following the closing date of the Private Placement.
The Private Placement is subject to TSX Venture Exchange approval.
The securities issued pursuant to the Private Placement are subject to a statutory hold period of four months from the date of the closing.
Astron will use the net proceeds from the Private Placement for business operations and expansion of its business, and for general working capital purposes. Finder’s fees may become payable in connection with the Private Placement.
ABOUT ASTRON CONNECT
Astron Connect (TSX-V:AST) helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron is the parent company of Sachiel Connect and Sachiel Water. Sachiel Connect brings Canadian food and beverage companies to the world through its extensive connections and export logistics capabilities in China and emerging markets. Sachiel Water supplies China and other emerging markets with pure Canadian bottled spring water. For more information, visit www.astronconnect.com.
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