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360 Blockchain arranges as much as C$1M private placement

Published: 13:37 08 Jan 2019 EST

An illustration of blockchain
Each unit consists of one common share of 360 Blockchain and one common share purchase warrant

360 Blockchain Inc (CNSX:CODE) said Tuesday that it has arranged a non-brokered private placement of as much as $1 million at C$0.03 per unit.

Each unit consists of one common share of 360 Blockchain and one common share purchase warrant, the Vancouver-based company said in a press release. Each warrant is exercisable at C$0.05 for a period of two years from closing.

READ: 360 Blockchain's ICO Ranker appoints new VP of business development

The proceeds will be used for general working capital and to finance future investments.

Shares slipped C$0.01 to C$0.03 in Tuesday’s Canadian trading and fetched US$0.03 on the OTC Markets.

In October, the company said its ICO Ranker portfolio firm had appointed Kyle Maron as its vice president for business development.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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