Gatekeeper Systems raise vastly oversubscribed – Increase to $4 Million

GateKeeper Systems announced today that after the $2 Million private placement was very quickly over subscribed, they are going to increase the amount to $4 Million.

  • $4 Million @ $0.20 unit
  • Whole warrant at $0.30 for 24 months (Accelerator Clause that company can force exercise if over $0.40 for 10 days)

The share price of Gatekeeper Systems GSI.V is also up (Trading at $0.275 now) after the announcement as investors not participating in the placement collect their shares.

 

 

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See the original Press Release below:

Gatekeeper Systems Inc. announces that the non-brokered private placement offering (the “ Offering ”) as announced on April 3, 2017 has been oversubscribed.  The Company now proposes to raise up to a total of $4 million through the issuance of up to 20 million units (the “ Units ”) at a price of $0.20 per Unit, subject to TSX Venture Exchange approval.

Each Unit will consist of one common share and one-half share purchase warrant (each whole share purchase warrant a “ Warrant ”), with each whole Warrant exercisable at $0.30 for a period of 24 months from the date of closing. Should the stock price trade over $0.40 per share for ten consecutive trading days, the Company will have the right to accelerate the expiry of the Warrants by giving notice to the holders of the Warrants by news release that the Warrants will expire on the date that is not less than 30 days from the date notice is given.

The Company plans to use the gross proceeds of the Offering for expansion of sales, its stop arm camera business, marketing and operations staff, and general working capital.

Subject to TSX Venture Exchange approval, the Company may pay qualified finders a fee consisting of cash and/or securities of the Company.

All securities issued under the Offering will be subject to a 4 month hold period under applicable Canadian securities laws.  The closing of the Offering is subject to acceptance of the TSX Venture Exchange.

About Gatekeeper Systems Inc.

Gatekeeper provides innovative, end-to-end video safety and security solutions for mobile applications including body cameras, in-car police video systems, school bus video and stop-arm camera video enforcement systems, transit bus video systems, and airborne digital recording systems for military applications.

The Company is headquartered in Abbotsford, British Columbia, Canada, and its shares are traded on the TSX Venture Exchange under the symbol “GSI”, and on the OTC Markets under the symbol “GKPRF”.

For more information visit: www.gatekeeper-systems.com

Read more at http://www.stockhouse.com/news/press-releases/2017/04/06/gatekeeper-systems-announces-increase-to-non-brokered-private-placement#Ix48CVSk17UmIgjK.99