VANCOUVER, BC, CANADA (September 4, 2019) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF) announce it has completed a first closing of a non-brokered private placement. The Company issued 42,739,001 units at a price of $0.035 per unit, for gross proceeds of $1,495,865.01. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of two years from the date of closing. Securities issued pursuant to this financing are subject to trading restrictions until January 5, 2020.
The Company paid finders fees to qualified finders of $84,779.20 and issued 2,422,263 broker warrants, which are on the same terms as the warrants forming part of the units. Net proceeds from the private placement will be used for general working capital and to fund future investments.
The company anticipates the final closing to be on or around September 15, 2019.