Facedrive Inc.’s $17.5 Million Private Placement

Miller Thomson advised Facedrive on the matter.

On April 7, 2022, Facedrive Inc. (TSXV:FD) announced the completion of a non-brokered private placement. Facedrive issued 29,661,016 units (the “Units”) at a subscription price of $0.59 per Unit, for aggregate gross proceeds to the Company of $17.5 million. Each Unit consisted of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional Share (a “Warrant Share”) at a price of $0.73 per Warrant Share for a period of 36 months from the date of issuance, subject to customary adjustment provisions. The Company decided to upsize the private placement as a result of strong investor interest.

Facedrive is a Canadian tech company that offers green personal transportation and food delivery solutions by focusing on carbon emissions reduction.

The Miller Thomson comprised of Geoff Clarke (Picture), Jonathan Tong and Simon Igelman (Capital Markets & Securities).

Involved fees earner: Geoff Clarke – Miller Thomson; Simon Igelman – Miller Thomson; Jonathan Tong – Miller Thomson;

Law Firms: Miller Thomson;

Clients: Facedrive Inc.;

Sonia Carcano

Author: Sonia Carcano