KHOT Announces Private Placement of up to CAD$500,000
Tortola, British Virgin Islands (FSCwire) - Khot Infrastructure Holdings, Ltd. (“Khot” or the “Company”) (CSE: KOT) KHOT Infrastructure Holdings, Ltd. (CSE:KOT) (“Khot” or the “Company”) is pleased to announce that further to its news release dated February 2, 2018 announcing a change of business, the Company intends to conduct a non-brokered private placement (the “Private Placement”) of up to 5,000,000 subscription receipts (each, a “Receipt”) at a price of $0.10 per Receipt (assuming the completion of a share consolidation on the basis of ten (10) post-consolidation shares for every one (1) pre-consolidation share). The proceeds of the Private Placement will be held in escrow pending the completion of the transactions, including the share consolidation, (collectively, the “Transaction”) set out in the Company’s information circular dated March 9, 2018. Upon completion of the Transaction, each Receipt will automatically convert into one common share of the Company, as constituted following completion of the share consolidation. The Company may pay finders’ fees.
The Private Placement is subject to regulatory approval, and securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities law.
The proceeds of the Private Placement will be used for the development of proprietary indexes and ancillary data products for emerging blockchain and digital currency markets, and for working capital and general corporate purposes.
Alan Tam, CFO
+1 604 377-7575
+1 604 220 2000
This press release was prepared by management of Khot, which takes full responsibility for its contents. The Canadian Securities Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.
Disclaimer for Forward-Looking Information
Statements containing forward-looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Source: Khot Infrastructure Holdings, Ltd. (CSE:KOT)
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