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

Proceeds will be used for general working capital and to finance future investments
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 [email protected]

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