VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 4, 2016) - Kona Bay Technologies Inc. (TSX VENTURE:KBY) (the "Company") announces that its board of directors has approved two financings to provide working capital for the Company:
The offerings will not be subject to a minimum amount. The offerings will be completed to accredited investors pursuant to National Instrument 45-106, prospectus and registration exemptions, to existing security holders pursuant to B.C. Instrument 45-534, exemption from prospectus requirement from certain trades to existing security holders, and to certain subscribers pursuant to B.C. Instrument 45-536, exemptions from prospectus requirement for certain distributions through an investment dealer. The offering of securities pursuant to B.C. 45-534 is being made to existing security holders who held shares of the Company on November 4, 2016. The Company confirms that there is no material fact or material change regarding the Company has not been generally disclosed.
Non-arm's length directors and officers the Company may participate in the private placement or Debenture offerings. The Company intends to use the gross proceeds of the offerings for general working capital.
Kona Bay Technologies Inc.
Kona Bay Technologies is a global provider of Online Customer Acquisition software and services. We acquire, manage, and build Online Customer Acquisition businesses that address the specific client acquisition needs of our customers in particular vertical markets.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future plans and objectives of Kona Bay Technologies Inc. - are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including the effects of anticipated product, service, and distribution changes and the potential benefits of such efforts and activities on the Company's results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.