- Backstageplay (TSXV: BP.H) raises $100,000 in first tranche of private placement.
- Funds will support the development of a new social gaming platform and content.
- Potential for multiple closings pending regulatory approvals.
Backstageplay Inc. (TSXV: BP.H) has successfully completed the first tranche of its non-brokered private placement, securing $100,000 through the issuance of 1,250,000 common shares at $0.08 per share. Each unit includes one common share and a warrant, with warrants exercisable at $0.50 per share for a 12-month period.
The company paid a finder's fee of $6,000 to BMO Nesbitt Burns Inc. Proceeds from this private placement will be allocated to the development of a new social gaming platform, content creation, integration of third-party solutions, and general corporate working capital. The company is open to multiple closings of the offering, subject to regulatory approvals.
The newly issued shares have a statutory hold period of four months and one day from their issuance date, restricting immediate trading. This strategic financial move aims to bolster Backstageplay's growth prospects in the electronic gaming and multimedia sector.
