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Hello Pal Announces Closing Of C$7.25 Million Subscription Receipt Financing

Hello Pal Announces Closing Of C$7.25 Million Subscription Receipt Financing

05/12/21, 1:10 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgvancouver
Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE: HP) (Frankfurt: 27H) (OTCQB: HLLPF), a provider of an international live-streaming, language learning and social-crypto platform, is pleased to announce that it has closed its previously announced brokered private placement (the "Offering") of subscription receipts (the "Subscription Receipts") with Canaccord Genuity Corp. (the "Agent"), acting as sole agent and bookrunner. Pursuant to the Offering, the Company sold 5,800,000 Subscription Receipts, at a price of C$1.25 per Subscription Receipt (the "Offering Price"), for aggregate gross proceeds of C$7,250,000.

Company Info

Company
The Hello Pal Platform
Location
vancouver, washington, united states
Additional Info
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world. Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.