Vancouver, British Columbia--(Newsfile Corp. - October 5, 2022) - Tracesafe Inc., (CSE: TSF) ("TraceSafe" or the "Company"), a global leader in location-aware Internet of Things (IoT) platforms for large-scale enterprise operations and managed decarbonization, announced today that it entered into a non-brokered private placement of up to 6,500,000 units of TraceSafe ("Unit") to raise up to $650,000 at $0.10 per unit. Each Unit shall consist of one common share of TraceSafe ("Common Share") and one whole non-transferable common share purchase warrant (a "Warrant").
Each Warrant shall be exercisable to acquire one Common Share at a price of $0.25 per Warrant for a period of 24 months from the Closing Date. The net proceeds from the offering shall be used primarily for: (i) costs related to development and creation of new technology and TraceSafe projects, (ii) acquisition of new technology and related bodies corporate, and (iii) working capital and general corporate purposes.
"We are excited about the opportunities we have in the pipeline, across both sides of the business- IoT and carbon management. From expanding our regional presence in the Middle East to strengthening our smart city solutions that bring together IoT and decarbonization solutions, we have a lot to look forward to in the coming months," said Wayne Lloyd, TraceSafe CEO. "With additional resources we will be able to see measurable growth and customer wins in the coming quarter."
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 organizations 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.shiftcarbon.io
For further information, please contact:
Wayne Lloyd, CEO
+1 (604) 629-9975
Mark Leung, CFO
+1 (778) 655-4242
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of carbon and climate risks and solutions adopted in response to climate change, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments respond to climate change and impact of carbon emissions and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139712