VANCOUVER, British Columbia, Nov. 27, 2017 (GLOBE NEWSWIRE) -- RewardStream Solutions Inc. (“RewardStream” or the “Company”) (TSXV:REW) and (Frankfurt:JL4L), (WKN Number A2APX1) announces that it has arranged a non-brokered private placement for up to 10 million post consolidated units at a price of 20 cents post consolidated per unit to raise total proceeds of $2 million. Each unit will comprise one common share of the issuer and one common share purchase warrant of the issuer. Each warrant will be exercisable into a common share of the company at an exercise price of 25 cents with a one year expiry.
The company will also have an overallotment option to place up to an additional 100 per cent of the financing.
Finders' fees or commissions may be payable by the company in connection with this private placement. The proceeds of this private placement are for the company's general working capital purposes.
Rewardstream also announced that it has agreed to use shares to settle amounts owing to a director and its senior management team for deferred salaries and bonuses. The price to settle these debts will be the post-consolidation price of $0.20 as announced above in its financing. The amount owing to senior management for deferred salaries and bonuses is $80,542.15.
About RewardStream Solutions Inc.
RewardStream specializes in the execution of automated referral marketing programs that help brands to acquire, engage, and retain their most valuable stakeholders – customers. By utilizing an innovative blend of marketing insight and proprietary technology, RewardStream turns an existing customer base into a powerful new sales channel for all our clients. RewardStream delivers a scalable, real-time technology platform as the foundation of our client's referral program. The platform provides customer acquisition programs that deliver new, highly loyal customers at very low cost per acquisition rates. Our award-winning marketing solutions have powered loyalty and referral marketing programs across 39 countries for brands including Boost Mobile, Envision Financial, W Concept, and Koodo Mobile and more. For more information please visit www.rewardstream.com.
For more information contact:
RewardStream Solutions Inc.
Rob Goehring, CEO
Rob.goehring@rewardstream.com
(877) 692-0040
Forward-Looking Information
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds and the results of financing efforts - that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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.