Waterfront Capital Announces Non-Brokered Private Placement
West Vancouver, British Columbia, September 15, 2017 – Waterfront Capital Corporation (the “Company” or “Waterfront”) announces that, subject to regulatory approval, the Company intends to proceed with a non-brokered private placement to raise up to $750,000 by the issuance of 15,000,000 units (the “Units”) at $0.05 per Unit (the “Private Placement”). Each Unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at an exercise price of $0.10. With respect to this private placement, the Company may pay finders’ fees in the amount of 10% (payable in cash or Units), based on the sale of the Units purchased by subscribers introduced to the Company by such finders.
The Company intends to use the proceeds from this Private Placement for general working capital purposes and to investigate certain potential business opportunities.
In connection with the Private Placement (and further to the Company’s news release of June 28, 2017), the TSX Venture Exchange (the “Exchange”) has granted the Company a one month extension (to October 29, 2017) from being transferred to the NEX Board of the Exchange so that the Company can close the Private Placement. Further the Exchange has indicated to the Company that if it closes its financing by October 29, 2017, the Exchange will grant the Company an additional 90 day extension to resolve its remaining Tier 2 Continued Listing Requirement deficiency.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922 2030 or visit the Company’s website at www.waterfrontcapitalcorp.com.
Waterfront Capital Corporation
“Douglas L. Mason”
Douglas L. Mason, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
This release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters, including the finder’s fee that may be paid by the Company and the intended use of proceeds of the private placement, are forward-looking statements. Forward-looking statements are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “suspects”, “intends”, “estimates”, “projects”, ”targets”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, such matters as political conditions, regulatory approvals, availability of capital and financing, and general economic, market or business conditions. The above list of important factors that may affect future results is not exhaustive. We caution you not to place undue reliance on these statements as a number of important factors could cause actual events or results to differ materially from those expressed or implied in any forward-looking statement made in relation to the Company. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made and are subject to change after that date and the Company does not undertake any obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.