Hire Technologies Announces Closing of the First Tranche of a Non-brokered Private Placement of Shares for Proceeds of up to $1.0 Million – Yahoo Finance
**NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**
TORONTO, ON / ACCESSWIRE / December 23, 2022 / HIRE Technologies Inc. (TSXV:HIRE.V) (OTCQB:HIRRF) ("HIRE" or the "Company"), a company focused on modernizing and digitizing human resources solutions, announces that it has closed the first tranche (the "First Tranche") of a non-brokered private placement financing of up to $1,000,000 (the "Offering") through the issuance of common shares of the Company (each, a "Common Share") at a price of $0.03 per Share (the "Offering Price").
The Company issued 16,667,000 Common Shares for aggregate gross proceeds of $500,010.01 in the First Tranche.
In connection with the First Tranche, the Company has agreed to pay aggregate finder's fees consisting of $26,400 to Canaccord Genuity Corp. and $6,240 to Clarus Securities Inc.
Two insiders of the Company, who are an affiliate of a director and a director, respectively, subscribed for 1,400,333 Common Shares issued under the First Tranche. The issuance of Common Shares to such insiders is considered related party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) on the basis that participation in the private placement by insiders does not exceed 25% of the fair market value of the Company's market capitalization.
The net proceeds from the Offering are intended to be used for general corporate purposes and working capital in accordance with the policies of the TSX Venture Exchange ("TSXV").
The Company may close one or more additional closings of this same Offering for additional proceeds. A subsequent press release will be issued if any such closing occurs. The Company may pay finders' fees consisting of cash on any subsequent tranche.
The issuance of Common Shares is subject to final acceptance of the TSXV.
All securities issued in connection with the First Tranche are subject to a four-month and one-day hold period in Canada.
This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
About HIRE Technologies Inc.
HIRE is a growing capital allocator rapidly establishing itself as a market leader in workforce management and staffing. HIRE's mission is to create a world-class portfolio of brands that will define the future of human resources through synergies, scale, and reach. The Company has extensive experience building and growing staffing and executive search companies and is supported by a large recurring revenue base and a highly scalable shared services platform. This structure enables HIRE to create value for partners and shareholders. For more information, visit hire.company.
Contacts
Simon Dealy
Chief Executive Officer
(647) 264-9196
sdealy@hire.company
Charlie Cooper
Chief Financial Officer
(647) 264-9199
ccooper@hire.company
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "expects," or "does not expect," "is expected," "estimates," "intends," "anticipates," or "does not anticipate," or "believes," or variations of such words and phrases or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of HIRE to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Examples of such statements include the completion of the Offering and the anticipated use of proceeds from the Offering. The closing of the Offering is subject to a number of customary conditions, including the approval of the applicable securities commissions and the TSXV, some of which are outside the control of HIRE. Purchasers are under no obligation to participate in another closing of the Offering, and another closing might not occur. Circumstances may necessitate or make it desirable that HIRE use the proceeds of the Offering for different purposes than those described above.
Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting it and the staffing industry, can be found in the Company's MD&A and its continuous disclosure record available on SEDAR. Although HIRE has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended.
All forward-looking statements herein are qualified by this cautionary statement as of the date hereof. Accordingly, readers should not place undue reliance on forward-looking statements. HIRE undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: HIRE Technologies Inc.
View source version on accesswire.com:
https://www.accesswire.com/733191/Hire-Technologies-Announces-Closing-of-the-First-Tranche-of-a-Non-brokered-Private-Placement-of-Shares-for-Proceeds-of-up-to-10-Million
Related Quotes
Despite all the pain from Elon Musk's Twitter distractions, Tesla ranks fourth on a list of the worst S&P 500 stocks of 2022 by market-value decline.
Earlier this year, in May, claims were made that Microsoft Corp co-founder Bill Gates owned the majority of America’s farmland. While that is false, with the billionaire amassing nearly 270,000 acres of farmland across the country, compared to 900 million total farm acres, a different billionaire privately owns 2.2 million acres, making him the largest landowner in the U.S. John Malone, the former CEO of Tele-Communications Inc., which AT&T Inc. purchased for more than $50 billion in 1999, has a
Not long ago considered a trailblazing investing guru, sentiment has entirely shifted around Cathie Wood over the past year and a half. Her ARK Invest fund’s ARK Innovation ETF is loaded with growth-oriented pandemic-era winners but as anyone following the stock market’s trajectory will know, the tables have turned on stocks of that ilk. And the result is that the ARKK ETF is now down by a huge 65% in 2022. Does that mean Wood is ready to desert her strategy of backing innovative yet risky and o
One area that was modestly successful was a screen I've used for years based on Benjamin Graham's "Stocks for the Defensive Investor," which he laid out in his 1949 masterpiece The Intelligent Investor. A company must have a current ratio (current assets divided by current liabilities) of at least 2.0.
This could put a dent in your retirement plans.
Specialty electric vehicle (EV) start-up Canoo (NASDAQ: GOEV) has had a difficult year. After its first-quarter financial report, Canoo management expressed "substantial doubt" about its future, saying it may not be able to continue operating its business. Since that time, however, the company announced a nonbinding agreement in July for Walmart to purchase up to 9,000 Canoo commercial delivery vans.
After three winning sessions in a row, the stock market fell on Thursday when the weekly jobless claims came in below the expectations. That data point indicated continued tightness in the labor market, but the Federal Reserve has been hoping to see signs of a moderate increase in unemployment, to indicate that the anti-inflationary rate increases are taking hold. Barring that evidence, the Fed is likely to continue raising rates and tightening monetary policy, increasing the risk of recession.
The e-commerce giant is having one of its worst years in the stock market since the bursting of the internet bubble in 2000.
As we look forward to 2023 — after a year of steep losses in many stocks in 2022 — we believe that there is significant opportunity in many dividend stocks. Shares of companies that have been beaten down in 2022, but now show good potential for higher valuations, maintained or raised dividend payments, and earnings upside are on the menu for the new year. Let's take a look at three companies we like that have high dividends, as well as high expected total returns looking forward.
Tough times are coming. But you can still make money.
These top-tier stocks make for genius buys with the Nasdaq Composite plunging as much as 38% from its peak.
Medical Properties (MPW) witnessed a jump in share price last session on above-average trading volume.
Michael Wilson, Morgan Stanley chief equity strategist, has been among the most prominent of the bearish prognosticators this past year, and while he still sees rough times ahead, he also offers some hope for the long term. At base, Wilson says the S&P 500 is likely to sink another 20% before hitting a bottom near 3,100 during 1Q23. The index slipped into a bear market in June of this year, when the Federal Reserve began its aggressive anti-inflationary interest rate hikes, and has been on a vol
Cathie Wood wasn't buying a lot of stocks earlier this month, but she's been picking up the pace lately. The co-founder, CEO, and principal stock picker of Ark Invest publishes her daily transactions. Roblox (NYSE: RBLX), Coinbase (NASDAQ: COIN), and Teladoc (NYSE: TDOC) are three of the existing Ark Invest positions that Wood added to yesterday.
Carnival's stock is suffering its worst-ever year, which has presented investors with an 'incredible buying opportunity,' Stifel's Steven Wieczynski said.
Ford's big venture into autonomous vehicles cost it a whopping $2.7 billion write-off. GM isn't showing any signs of slowing its pursuits.
In a regulatory filing, ChargePoint revealed that its chief technology officer, Eric Sidle, had served notice that he is to vacate his position. Additionally, ChargePoint said that it has named a new COO, effective immediately. This is to be Rick Wilmer, who's moving over from his job as chief customer and operations officer.
If you're looking to buy some stocks that look historically cheap, this trio of industrial names should be on your list.
Tesla's (NASDAQ: TSLA) stock is down in 2022 as CEO Elon Musk has diverted his attention to his acquisition of Twitter. This video will help determine whether investors should buy Tesla stock for 2023.
How far off is Exxon Mobil Corporation ( NYSE:XOM ) from its intrinsic value? Using the most recent financial data…