Neptune Dash Technologies Secures up to $4 Million Equity Facility with New York Private Equity Firm Alumina Partners LLC
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Neptune Dash Technologies Inc. - (the "Company" or "Neptune") (TSX.V:DASH) (OTC:NPPTF) (FSE:1NW) is pleased to announce that the Company has entered into a non-binding agreement for a draw-down equity facility (the "Facility") of up to $4,000,000. The agreement provides for equity private placement offerings (the "Offerings"), to be conducted between Neptune and Alumina Partners LLC, a New York-based private equity firm, in draw down amounts at the sole discretion of the Company, of up to $250,000. Pursuant to the terms of the Offerings, Alumina Partners will commit to purchase up to $4,000,000 of units of the Company (the "Units"), consisting of one common share (the "Shares") and one common share purchase warrant (the "Warrants"), at discounts ranging from 15% to 25% of the market price of the Shares, with each Offering occurring exclusively at the option of the Company, throughout the 24 month term of the agreement. The exercise price of the Warrants will be at a 25% premium over the market price of the Shares.
"We are very pleased that Alumina Partners will be providing us with capital to take advantage of strategic crypto purchasing opportunities," said Cale Moodie, CEO. "This arrangement provides Neptune with the control over the timing and therefore the pricing and the amount of capital to be raised in order to shore up the balance sheet with additional crypto assets."
"Alumina is excited to benefit from more exposure to a strategically managed cryptocurrency portfolio," said Adi Nahmani, Alumina's Managing Member. "We feel that Neptune Dash's management team of crypto market veterans is unusually well-positioned to seek risk-adjusted returns using carefully selected crypto assets as a currency hedge, an inflation hedge and a speculative bet on the resurgence of popular interest in the space."
The purpose of the Offering is to provide the Company with the financial flexibility and unilateral control over strategic crypto currency purchasing as well as general working capital requirements.
About Neptune Dash Technologies Corp.
The Company primarily builds and operates Masternodes and invests in Node technologies. The Company also has a diversified cryptocurrency portfolio through investments made in Proof-Of-Stake tokens and their associated blockchain technologies.
For further information please contact:
Neptune Dash Technologies Corp.
Cale Moodie, President and CEO
310 - 36 Water street,
Vancouver, BC V6B 0B7
Phone: (604) 319-6955
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to, the completion of any Offerings and the use of proceeds from such Offerings. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company's ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.