/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED
STATES/
HALIFAX, NS, April 28, 2021 /CNW/ - kneat.com, inc. (TSXV:
KSI) ("Kneat" or the "Company") is pleased to announce that it
has closed its previously announced short form prospectus offering,
including the full exercise of the over-allotment option. As such,
a total of 6,708,525 common shares of the Company were sold at
a price of $3.00 per common share
(the "Issue Price") for aggregate gross proceeds of $20,125,575 (the "Offering"). The Offering was
completed by a syndicate of underwriters co-led by Cormark
Securities Inc. and CIBC World Markets Inc., and including Eight
Capital and Echelon Wealth Partners Inc. (collectively, the
"Underwriters").
The Company also completed the non-brokered private placement of
666,668 common shares of the Company at the Issue Price for
aggregate gross proceeds of $2,000,000 (the "Private Placement"). The common
shares issued pursuant to the Private Placement are subject to a
statutory four month hold period in accordance with applicable
securities laws.
The Company intends to use the net proceeds of the Offering and
the Private Placement for growth initiatives, working capital and
general corporate purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This press release
does not constitute an offer of securities for sale in the United States. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States absent registration under
U.S. federal and state securities laws or an applicable exemption
from such U.S. registration requirements.
About Kneat
Kneat, a Canadian company with operational headquarters in
Limerick, Ireland, develops and
markets the next generation Kneat Gx SaaS platform. Multiple
business processes can be configured on Kneat Gx from equipment to
computer system validation, through to quality document
management.
Kneat Gx allows users to author, review, approve, execute
testing online, manage any exceptions and post approve final
deliverables in a controlled FDA 21 CFR Part 11/ Eudralex Annex 11
compliant platform. Macro and micro report dashboards enable
powerful oversight into all systems, projects, and processes
world-wide.
Customer case studies are reporting productivity improvements in
excess of 100% and a higher data integrity and compliance standard.
For more information visit www.kneat.com.
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein,
certain information presented herein constitutes "forward-looking
information" within the meaning of applicable Canadian securities
laws. Such forward-looking information includes, but is not limited
to, information relating to the use of proceeds. While such
forward-looking statements are expressed by Kneat, as stated in
this release, in good faith and believed by Kneat to have a
reasonable basis, they are subject to important risks and
uncertainties. As a result of these risks and uncertainties, the
events predicted in these forward-looking statements may differ
materially from actual results or events. These forward-looking
statements are not guarantees of future performance, given that
they involve risks and uncertainties. Kneat does not undertake any
obligation to release publicly revisions to any forward-looking
statement, except as may be required under applicable securities
laws. Investors should not assume that any lack of update to a
previously issued forward-looking statement constitutes a
reaffirmation of that statement. Continued reliance on
forward-looking statements is at an investors' own risk.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE kneat.com, inc.