ELLIPSIZ COMMUNICATIONS LTD. ANNOUNCES $1 MILLION PRIVATE PLACEMENT OFFERING, APPOINTS SINI STOJICIC TO ADVISORY BOARD AND RETAINS PROCONSUL
TORONTO, ONTARIO – March 1, 2018 – Ellipsiz Communications Ltd. (formerly NXA Inc.) (TSXV: ECT) (the “Company” or “ECL”) wishes to announce that it is offering up to 20,000,000 units (the “Units”) of the Company at a price of $0.05 per Unit for gross proceeds of up to $1,000,000 (the “Offering”).
Each Unit is comprised of one (1) common share and one (1) common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.05 for a period of two years from the closing date of the Offering.
All securities issued pursuant to the Offering are subject to a statutory four month hold period from the closing date of the Offering. The Offering is subject to TSX Venture Exchange approval.
The Company also wishes to announce that it is establishing an advisory board of individuals with expertise to assist the Company. The first appointment is Mr. Sini Stojicic. Mr. Stojicic has extensive experience with business and corporate strategy, financial analysis and business planning. He is a Director, Cloud + Enterprise Strategic Sales with Microsoft. He was a Global Client Solutions Executive with IBM for over 8 years for IBM. Prior to joining at IBM, he was the Senior Vice President of Intelligent Engineering Group where his responsibilities include strategic direction, business planning, commercial contract negotiations, and management of the team spread over 2 continents.
The Company further announces that Company has retained Proconsul or its affiliate, Consul Holdings to provide select investor relations services focused on Toronto area investor events commencing on March 1, 2018. Under the terms of the contract, the Company will pay Proconsul $3,000 per month, and reimburse Proconsul for certain pre-approved expenses and the contract runs month to month.
The arrangement with Proconsul is subject to acceptance by the TSX Venture Exchange.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
T: 416 977-3223