Namaste $51,750,000 Bought Deal Financing Including Full Exercise of Over-Allotment Option
Channel: RICH TV LIVE
Date: 2018-10-25

Namaste $51,750,000 Bought Deal Financing Including Full Exercise of Over-Allotment Option - RICH TV LIVE - October 25, 2018 - Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) #namaste (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that it has closed today its previously announced “bought deal” short form prospectus offering of units, including the exercise in full of the over-allotment option (the “Offering”).

A total of 17,250,000 units of the Company (“Units”) were sold at a price of $3.00 per Unit (the “Issue Price”) for gross proceeds of $51,750,000. The Offering was completed by a syndicate of underwriters led by Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, and including Laurentian Bank Securities Inc. (the “Underwriters”). Each Unit was comprised of one common share in the capital of the Company (a “Common Share”) and three-quarters of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $3.15 until October 25, 2023.

It is anticipated that the Warrants will commence trading on the TSXV Venture Exchange (“TSXV”) on Monday, October 29, 2018 under the symbol “N.WT.A.”

In consideration for their services, the Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering and compensation options (each a “Compensation Option”) equal to 6% of the Units sold pursuant to the Offering. Each Compensation Option entitles the holder thereof to purchase one Unit at the Issue Price until October 25, 2023.

The net proceeds of the Offering are expected to be used by the Company for inventory and supplies, capital improvements, personnel and facility operations, integration and expansion of e-commerce platforms and customer bases, and for working capital and general corporate purposes, as more particularly described in the Company’s final prospectus.

The Offering is subject to TSXV final acceptance of requisite regulatory filings.
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