August 16, 2022: Vancouver, BC – Tracesafe Inc., (“TraceSafe” or the “Company”) (CSE: TSF), a global leader in location-aware Internet of Things (IoT) platforms for large-scale enterprise operations and managed decarbonization, announced today that it will sell, on a non-brokered basis, a private placement (the “Private Placement”) of up to 3,333,333 units of the Company (the “Units”) at a price of CDN$0.15 per Unit for aggregate gross proceeds of up to CDN$500,000 (the “Offering”), subject to the conditional acceptance of the Canadian Securities Exchange (the “Exchange”). The financing will help drive TraceSafe's new direction towards decarbonization following the launch of its comprehensive carbon management solution, ShiftCarbon. Proceeds from the transaction will be used for general working capital and support product development and customer acquisition for ShiftCarbon.
Each Unit will consist of one common share (a “Common Share”) and one whole non-transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one Common Share (a “Warrant Share”) at an exercise price of CDN$0.30 per Warrant Share for a period of twenty-four months from closing of the Offering (the “Closing Date”).
In connection with the Offering, the Company may pay finders’ fees on a portion of the Offering in accordance with applicable securities laws and the policies of the Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period of four month plus one day from the date of issuance in accordance with applicable securities laws.
“We have made significant progress on our growth plans that include the new decarbonization and net-zero focus in the last six months. With this financing, we will strengthen customer outreach for our carbon platform and geographic expansion of our IoT solutions in the Middle East,” Wayne Lloyd, TraceSafe CEO.
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 U.S. Securities Act of 1933 (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 (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
TraceSafe provides Internet of Things (IoT) solutions transforming large-scale industrial and enterprise operations with unique wearables, industrial-grade sensors and award-winning analytics platform. The Company’s hardware solutions, powered by advanced low-power bluetooth beacons, work together with its proprietary software to provide mission-critical data enabling safer, efficient and sustainable enterprise environments. With presence across North America, Asia and Europe, TraceSafe’s solutions are trusted by leading organizations in healthcare, hospitality, construction, events, education and government. Recently, the company announced a strategic focus towards ‘managed decarbonization’ to help companies take credible climate action using high quality offsets. To this end, TraceSafe acquired an offset marketplace and launched its full suite of carbon management solutions- www.tracesafe.io/shiftcarbon