Vancouver, BC – 360 Capital Financial Services Group Inc. (“360” or the “Company“) (CSE:TSZ, www.360capital.ca) announces that it has closed its previously announced non-brokered private placement of 26,175,000 units of the Company (“Units“) at a price of $0.04 per Unit for aggregate gross proceeds of $1,047,000 (the “Private Placement“).
Each Unit is comprised of one common share in the capital of 360 (“Common Share“) and one Common Share purchase warrant (“Warrant“). Each Warrant will be exercisable for one Common Share at a price of $0.05 per share for a period of 36 months from the date of closing of the Private Placement. The Company paid qualified finders commissions of $54,960 in cash and 1,374,000 finder’s warrants. The proceeds of the Private Placement will be used for general corporate purposes including funding its current operations and supporting ongoing investigations of potential business opportunities.
Securities issued under the Private Placement are subject to trading restrictions until December 18, 2017.