NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S.
NEWSWIRES
VANCOUVER, BC, Oct. 27, 2020 /CNW/ - Interlapse Technologies
Corp. (TSXV: INLA) (OTCQB: INLAF) announces that the Company
intends to increase the size of its previously announced
non-brokered private placement offering (see press release dated
September 23, 2020) of up to approximately 5,000,000
units of the Company (the "Units") at C$0.15 per Unit, for aggregate gross proceeds of
up to approximately C$750,000.
Each Unit is comprised of one common share of the Company and
one share purchase warrant. Each warrant entitles the holder to
purchase one additional common share at a price of C$0.20 per share for a period of 18 months from
the date of issuance. In the event that the closing trading price
of the shares on the TSX Venture Exchange ("TSX-V") is C$0.40 or greater for a period of 10 consecutive
trading days, the Company may, at its option, accelerate the
warrant expiry date by issuing a press release.
The Company may pay finders' fees in connection with the private
placement. Completion of the private placement is subject to
certain conditions, including, but not limited to, the approval of
the TSX-V.
Interlapse plans to use the funds towards further development of
the Company's virtual currency and digital asset business.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and may not be
offered or sold within the United
States or to, or for the account or benefit of, U.S. Persons
(as defined in Regulation S under the U.S. Securities Act) unless
an exemption from such registration is available.
About Interlapse Technologies Corp.
Interlapse Technologies Corp. is a financial technology
applications company accelerating the global mega-trend of virtual
currency adoption. Our signature product, Coincurve.com, enables a
simple, safe way to buy, sell and spend virtual currency.
To learn more, visit www.interlapse.com.
Neither TSX-V nor its Regulation Services Provider (as that term
is defined in the policies of the TSX-V) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Information
Statements
contained in this release that are not historical facts are
forward-looking statements, including statements relating to the
payment of finders' fees and planned use of proceeds from the
private placement, that involve various risks and uncertainty
affecting the business of Interlapse. In making the forward-looking
statements, Interlapse has applied certain assumptions that are
based on information available, including Interlapse's strategic
plan for the near and mid-term, including that regulatory approval
of the private placement will be obtained in a timely manner, that
all conditions precedent to completion of the private placement
will be satisfied in a timely manner and that general economic and
business conditions will not change in a materially adverse manner.
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
information. Interlapse does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE Interlapse Technologies Corp.