Vsblty closes $481,350 second tranche of placement

Vsblty Groupe Technologies Corp (C:VSBY) 
Shares Issued 246,627,408
Last Close 7/25/2023 $0.07
Tuesday July 25 2023 - News Release

Mr. Jay Hutton reports

VSBLTY CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $481,350

Further to the news releases dated July 11 and July 21, 2023, Vsblty Groupe Technologies Corp. has closed the second tranche of its previously announced non-brokered private placement offering of units of the company, issuing 9,627,000 units at a price of five cents per unit for gross proceeds of approximately $481,350. Together with the first tranche of the private placement, the company has raised, in aggregate, total gross proceeds of approximately $3,843,850 under the private placement.

As part of the second tranche, the company also settled an aggregate of $80,000 of outstanding indebtedness in consideration for 1.6 million units issued at a price of five cents per unit.

Each unit issued in the second tranche is composed of one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to acquire one additional share at a price of 7.5 cents per warrant share until July 25, 2027. All of the units issued in the second tranche are subject to a statutory hold period until Nov. 26, 2023.

Certain insiders of the company acquired units in the private placement for aggregate gross proceeds of $216,350. The participation by such insiders in the private placement constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). These issuances to insiders are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the shares subscribed for by the insiders, nor the consideration for the shares paid by such insiders exceeded 25 per cent of the company's market capitalization.

In connection with the private placement, the company has paid finders' fees of $124,865 and has issued an aggregate of 3,091,900 share purchase warrants and 900,900 shares to eligible finders. Each finder's warrant entitles the holder thereof to acquire one share at a price of 7.5 cents per share for a period of 24 months from the applicable closing date.

The company intends to use the proceeds of the private placement for expanding the company's store-as-a-medium networks and deployments, expanding commercial operations in Brazil, technology development, expanding security network deployments, general and administrative expenses, and working capital, as more particularly set out in an offering document that is available under the company's profile at SEDAR and at the Vsblty website.

About Vsblty Groupe Technologies Corp.

Headquartered in Philadelphia, Vsblty (OTCQB: VSBGF) (Canadian Securities Exchange: VSBY) (Frankfurt Stock Exchange: 5VS) (OTC: VSBGF) is the world leader in pro-active digital display, which transforms retail and public spaces, as well as place-based media networks, with software-as-a-service-based audience measurement and security software that uses artificial intelligence and machine learning. Its proprietary technology effectively integrates with other digital retail solutions, including QR codes and mobile applications. The firm is also recognized for its leadership role in the growing store-as-a-medium movement that enables brands to reach customers when and where buying decisions are being made while producing a new revenue stream for retailers.

We seek Safe Harbor.

© 2023 Canjex Publishing Ltd.