Apogee Opportunities Inc. Announces Closing of Oversubscribed Brokered Private Placement Co-Led by Canaccord Genuity, Gravitas Securities and Clarus Securities
TORONTO, June 29, 2018 (GLOBE NEWSWIRE) — Apogee Opportunities Inc. (“Apogee” or the “Company”) (NEO:APE) is pleased to announce that it has closed its previously announced offering (the “Offering”) of subscription receipts of Apogee Opportunities (USA) Inc. (“Apogee Subsidiary”), a wholly owned subsidiary of the Company (each a “Subscription Receipt”) and special units of the Company (each, a “Special Unit” and together with the Subscription Receipts, the “Offered Securities”). In aggregate, 32,212,735 Offered Securities were sold under the Offering at a subscription price of $0.40 per Offered Security for gross proceeds of $12,885,094. The Offered Securities, other than 4,200,485 sold on a non-brokered basis (the “Non-Brokered Offering”), were sold pursuant to the terms of an agency agreement dated June 29, 2018 among the Company, Apogee Subsidiary, ANM, Inc. dba Halo Labs (“Halo”), Canaccord Genuity Corp. (“Canaccord”), Clarus Securities Inc. (“Clarus”) and Gravitas Securities Inc. (“Gravitas”, and together with Canaccord and Clarus, the “Agents”). All proceeds from the sale of the Offered Securities, less 50% of the commissions payable to the Agents and the Agents’ expenses (the “Escrowed Funds”), have been placed in escrow pending the satisfaction of the Escrow Release Conditions (as defined below).
