Toronto, ON – RIWI Corp. (CSE: RIW) (the “Company” or “RIWI”) is pleased to announce today that the Company intends to proceed with a proposed non-brokered private placement of up to 250,000 units of the Company (“Units”) at a price of CDN$2.10 per Unit or, at the discretion of the Subscriber, converted to United States dollars using an exchange rate of CDN$1.00 being equal to US$0.76923 for an effective price of US$1.62 per Unit (the “Offering”). Each Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase, for a period of 12 months from the date of issue, one common share of the Company at an exercise price of CDN$2.40 per share. Closing of the Offering is expected to occur on or about September 30, 2016. The gross proceeds from Offering will be up to CDN$525,000. “The proceeds will be used primarily to rapidly expand our global analytics and Big Data platform in response to growing client demand,” said Neil Seeman, RIWI’s Chairman and Chief Executive Officer. The Offering is subject to regulatory approval, including the approval of the Canadian Securities Exchange.
About RIWI
RIWI is a global survey technology and risk measurement company using its proprietary, patented methods to capture a new stream of opinion data in any region of the world. For more information, please visit: https://riwi.com/. RIWI CORP.