Vancouver, B.C. – Astron Connect Inc. (the “Company” or “Astron”) (TSX.V:AST) is pleased to announce that it has closed a non-brokered private placement, consisting of 30,000,000 units at a price of $0.05 per unit (the “Units”) for aggregate proceeds of $1,500,000 (the “Private Placement”). Each Unit consists of one common share of the Company and one transferable share purchase warrant of the Company. Each warrant is exercisable to acquire one common share at an exercise price of $0.05 for a period of one year from the date of closing of the Private Placement. The proceeds from the financing will be used for general working capital.
Finder’s fees consisting of a total of 1,500,000 non-transferable units (the “Finder’s Units”) have been paid in connection with the Private Placement. The Finder’s Units have the same terms as the Units except that they are non-transferable.
All of the above securities are subject to a statutory hold period expiring May 11, 2020.
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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