RZOLV Technologies to Raise $1.5 Million Via Non-Brokered Private Placement
RZOLV Technologies (RZL.V) intends to complete a non-brokered private placement financing for proceeds of up to about $1.5 million, it said on Wednesday.Wednesday's statement added the financing will consist of up to near 4.3-million units at $0.35 apiece. Each unit will consist of one common share and one-half of one non-transferable common share purchase warrant, with each whole warrant entitling the holder to buy a share for $0.55 apiece for a two-year period from the date of issuance.The company said it may complete the financing in one or more tranches. Proceeds are expected to be used for research and development, pilot-scale and commercial-readiness activities, technical validation work, equipment and process optimization, intellectual property protection, business development, strategic partnership initiatives, investor relations, working capital, and general corporate needs.Certain directors, officers, insiders, or related parties of the company may participate in the financing, it said.Shares of the company were last seen unchanged at $0.37 on the TSX Venture Exchange.
