PowerBand Solutions Closes $5.3 Million Private Placement

PowerBand Solutions (TSXV: PBX) this afternoon closed its previously announced private placement. The company managed to raise total gross proceeds of $5.3 million under the financing.

The placement saw a total of 18.3 million units of the company sold at a price of $0.49 each. Each unit contained one common share and one common share purchase warrant. Each warrant is valid for a period of two years from the date of closing and contains an exercise price of $0.49 per share.

Proceeds from the private placement are to be used to fund the continued expansion of the firms US operations, as well as for software development, business development, administration, and for general working capital purposes.

PowerBand Solutions last traded at $0.69 on the TSX Venture.


FULL DISCLOSURE: PowerBand Solutions is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover PowerBand Solutions on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

PowerBand Sees National Car Retailer That Purchases 48,000 Vehicles Annually Join Platform

PowerBand Solutions (TSXV: PBX) appears to have acquired a major client for its D2D Auto...

Tuesday, August 25, 2020, 09:32:04 AM

PowerBand Announces Memorandum Of Understanding With Allianz Partners

PowerBand Solutions (TSXV: PBX) this morning announced that it has entered into a memorandum of...

Thursday, March 11, 2021, 09:01:55 AM

PowerBand Solutions Signs MOU With Global Insurance Provider, Strategic Equity Investment Proposed

PowerBand Solutions (TSXV: PBX) has entered into a memorandum of understanding with an undisclosed global...

Tuesday, March 2, 2021, 09:15:04 AM

PowerBand Solutions Sees March Gross Sales Grow 44% To $11.5 Million

PowerBand Solutions (TSXV: PBX) this morning reported its March gross sales figures, reporting a record...

Tuesday, April 6, 2021, 09:17:33 AM

PowerBand Solutions Prepares To Launch Driveaway App Nationwide

PowerBand Solutions (TSXV: PBX) announced this morning that it is preparing to launch its Driveaway...

Monday, June 15, 2020, 09:06:43 AM