MONTREAL–(BUSINESS WIRE)–Intema Solutions Inc. (“Intema” or the “Corporation”) (TSXV: ITM.H, OTCMKTS: ITMZF), developer of eflyermaker.com, is pleased to announce the offering, by way of a non-brokered private placement, of 10,000,000 units (the “Units”) of the Corporation priced at $0.10 each, for gross proceeds of $1 million. Each Unit will consist of one common share and one common share purchase warrant. Each warrant will entitle its holder to purchase an additional common share at $0.15 per share for a period of 12 months following the closing.
The Corporation will mainly use the proceeds to start implementing its expansion plan, namely by adding developers and increasing Intema’s marketing activities in key sectors, including the cannabis market, which represents a new, underserved market that Intema plans to develop further in the coming year.
Two insiders (as such term is defined under applicable securities law) of the Corporation, Laurent Benezra (Chief Executive Officer) and Claude Théoret (Chief Operating Officer), are expected to participate and subscribe for, respectively, 500,000 Units and 600,000 Units. The issuance of these Units will constitute a related party transaction within the meaning of TSXV Policy 5.9 and Regulation 61-101 (“Regulation 61-101”). The Corporation will rely on the exemptions from the valuation and minority shareholder approval requirements of Regulation 61-101 contained in Sections 5.5(a) and 5.7(1)(a), respectively.
In connection with the Offering, the Corporation may pay a cash commission equal to 8% of the gross proceeds to registered dealers. All securities issued pursuant to this private placement are subject to a mandatory hold period of four months and a day under applicable Canadian securities legislation and the private placement remains subject to TSX Venture Exchange Approval.
Intema is also pleased to announce the nomination of Michael Curtis to the Board of directors. Mr. Curtis is a seasoned executive having over 45 years of experience in the Canadian financial industry in the areas of trading, research, corporate finance and the management of public companies. In 1998, he founded and became President and Director of Cardwell Capital Inc., a private investment and trading corporation that invests in small and mid-capitalization public companies trading in North American markets. He has also worked closely with Intrepid Financial, a Canadian investment and advisory firm with a focus on the natural resource and technology sectors that has raised over $2B for its portfolio companies. Mr. Curtis is presently a Board member of Quinto Resources and Cellstop Systems, both publicly listed companies.
Graduation to the TSX Venture Exchange
Finally, the TSX Venture Exchange has conditionally approved Intema’s proposed reactivation and related graduation from NEX to TSX Venture Tier 2 Issuer, subject to completion of the private placement described herein in the amount of $1 million and other required filings. The Corporation will confirm once the process is complete.
About Intema Solutions Inc.
Intema’s mission is to be the world’s premier digital marketing platform. The Corporation has been simplifying and optimizing the online marketing activities of medium and large companies through innovative technologies and cutting-edge expertise for over 20 years. A Canadian leader in permission-based email marketing, Intema provides a wide range of products and services, including AI predictive marketing and SMS marketing, as well as related professional services. For more information, please visit our corporate website at intema.com and our product websites eflyermaker.com and matcheranalytics.com.
This press release may contain “forward-looking statements”. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding the projected financial performance of the Corporation; the expected development of the Corporation’s business and projects; execution of the Corporation’s vision and growth strategy; sources and availability of financing for the Corporation’s projects; renewal of the Corporation’s current customer, supplier and other material agreements; and future liquidity, working capital, and capital requirements, are forward-looking statements. Although the forward-looking statements in this press release are based upon what management of the Corporation believes are reasonable assumptions, there can be no assurance that they will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.