APPx Group Holdings, Inc. Announces $2.8 Million Private Placement
Montreal, Quebec—(December 10, 2018) – APPx Group Holdings, Inc. (CSE: APPX) (FSE: APO) (“APPx” or the “Company”) a Canadian Fintech incubator and blockchain development company, is pleased to announce that it will undertake a non-brokered private placement (the “Private Placement”), led by a United States-based financial institution consisting of 13,000,000 units (the “Units”) at a price of C$0.22 per Unit for gross proceeds of C$2,860,000.
Each unit will be comprised of one common share and one half of a non-transferable common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional common share for a period of two years at an exercise price of $0.35 per share.
APPx is extremely thrilled to have this financial institution involved as a partner and a shareholder. This offering shows continued and growing global interest in APPx and its projects.
Finder’s fees may be payable in accordance with the policies of the Canadian Securities Laws and applicable securities laws. All securities issued and issuable in connection with this Private Placement will be subject to a 4-month hold period in Canada from the closing date. The net proceeds from the Private Placement will be used for building and launching a next-generation cryptocurrency mining operation, project generative activities, blockchain research and development, mergers and acquisitions, and general and administrative expenses.
About APPx Group Holdings, Inc.
APPx Group Holdings, Inc. is a Fintech incubator that offers technology-based business solutions. Our growing partnership network allows us to service a wide range of markets: advertising, blockchain, crypto, fintech, and telecommunications products and services.
With our strong reach, we’re constantly adding to, and enhancing, our portfolio. We strive to be industry leaders, creating innovations engineered from the ground up by our diverse culture of talent. APPx delivers sustained value by strategically solving our customers’ immediate and long-term needs, helping them reach their goals on a global scale.
On Behalf of the Board of Directors
Signed “Rahim Mohamed”
Rahim Mohamed, CEO
For further information, contact:
APPx Group Holdings, Inc.
Rahim Mohamed, CEO
Jay Ruckenstein, President
Certain statements in this release are forward-looking statements/information. Statements about the Company’s plans and intentions, the Private Placement, use of proceeds, other potential transactions, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the ability to successfully develop software, anticipated costs, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospects and opportunities; changes in laws and regulations; changes in and the effect of government policies; demand for products and services; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the common shares of the Company.
Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, changes in laws, negative sentiment towards the industry in which the Company operates, increase in operating costs, the loss of key directors, employees, advisors or consultants, technology failures, litigation, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.