October 16, 2017 4:57 PM
Vancouver, BC, October 17, 2017 – 360 Blockchain Inc. ("360" or the "Company") (CSE:COD- FWB: C5B), announces that it has closed its previously announced non-brokered private placement of 24,999,998 units of the Company ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $1,500,000 (the "Private Placement").
Each Unit is comprised of one common share in the capital of 360 ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant will be exercisable for one Common Share at a price of $0.10 per share for a period of 24 months from the date of closing of the Private Placement. The Company paid qualified finders commissions of $58,761.59 in cash and 979,360 finder’s warrants. The proceeds of the Private Placement will be used for general corporate purposes including funding its current operations and supporting ongoing investigations of potential business opportunities.
Securities issued under the Private Placement are subject to trading restrictions until February 17, 2018.