Mota Ventures Announces $5 Million Non-Brokered Unit Share Offering
Saturday, May 30, 2020 11:50 AM
VANCOUVER, BC / ACCESSWIRE / May 30, 2020 / Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ:GR)(OTC PINK:PEMTF) (the "Company") announces that it will offer (the "Offering") up to 11,111,112 units (each, a "Unit"), at a price of $0.45, by way of non-brokered private placement, for gross proceeds of up to $5,000,000. Each Unit will consist of one common share of the Company, and one common share purchase warrant exercisable to acquire an additional common share at a price of $0.90 per share for a period of twenty-four months.
The Company anticipates utilizing the proceeds of the Offering to further develop and market products in North American and Europe using its e-commerce sales channels, and for general working capital purposes.
In connection with completion of the Offering, the Company may elect to pay finders' fees to eligible third-parties who have introduced subscribers to the Offering and an administrative fee payable in shares will be owing to a consultant who assisted with the Offering. All securities to be issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of the Offering remains subject to completion of customary filings with the Canadian Securities Exchange.
The Company also announces that it has engaged Electrik Dojo to provide investor relations services and written and video interview coverage of news releases and other corporate developments. Electrik Dojo is a financial news and events organization with bureaus in North America. The Company will compensate Electrik Dojo for a three-month period at a total rate of USD$100,000.
"The Company continues to look at future marketing opportunities and strategic consultants to grow awareness of the Company and its activities. As a Company, we look to disseminate accurate and in-depth information on our endeavors. We will look at marketing where appropriate and continue to do so with guidelines," stated Ryan Hoggan, Chief Executive Officer of the Company.
About Mota Ventures Corp.
Mota Ventures is an established eCommerce, direct to consumer provider of a wide range of CBD products in the United States and Europe. In the United States, the company sells a CBD hemp-oil formulation derived from hemp grown and formulated in the US through its Nature's Exclusive brand. Within Europe, its Sativida brand of award winning 100% organic CBD oils and cosmetics are sold throughout Spain, Portugal, Austria, Germany, France, and the United Kingdom. Mota Ventures is also seeking to acquire additional revenue producing CBD brands and operations in both Europe and North America, with the goal of establishing an international distribution network for CBD products. Low cost production, coupled with international, direct to customer, sales channels will provide the foundation for the success of Mota Ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP.
Chief Executive Officer
For further information, readers are encouraged to contact Joel Shacker, President at +604.423.4733 or by email at [email protected] or www.motaventuresco.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to the intended completion of the Offering, and its plans to acquire revenue-producing CBD brands and operations in Europe and North America. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
SOURCE: Mota Ventures Corp.