SpotLite360 IOT Solutions Inc. Source: SalesTech
  • SpotLite360 IOT Solutions (LITE) has closed a non-brokered private placement for gross proceeds of $350,000
  • The company issued 3,500,000 units at $0.10 per unit
  • SpotLite360 intends to use the net proceeds from the private placement to support growth opportunities, customer installations and general working capital requirements
  • SpotLite360 is a logistics technology solutions provider unlocking value, opportunities, and efficiencies for all participants in a supply chain
  • SpotLite360 IOT Solutions Inc. (LITE) is up 15.00 per cent, trading at C$0.115 per share at 1:53 pm ET

SpotLite360 IOT Solutions (LITE) has closed a non-brokered private placement for gross proceeds of $350,000.

The company issued 3,500,000 units at $0.10 per unit. Each unit consists of one common share and one-half of one transferable share purchase warrant. Each whole warrant entitles the holder to purchase one additional share at $0.20 per share for a period of twenty-four months from the date of issuance.

The company paid cash finder’s fees of $10,500 and issued 105,000 warrants on the same terms as noted above to qualified parties.

SpotLite360 intends to use the net proceeds from the private placement to support growth opportunities, customer installations and general working capital requirements.

The shares issued will be subject to a statutory hold period expiring on January 24, 2023.

SpotLite360 is a logistics technology solutions provider unlocking value, opportunities, and efficiencies for all participants in a supply chain. Building upon existing applications of IoT technologies, distributed ledgers, and machine learning, it aims to set new standards of transparency, integrity, and sustainability in the pharmaceutical, healthcare, and agriculture industries.

SpotLite360 IOT Solutions Inc. (LITE) is up 15.00 per cent, trading at C$0.115 per share at 1:53 pm ET.


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