Ackroo adds $587,316 of working capital to drive continued
growth
OTTAWA, June 9, 2016 /CNW Telbec/ - Ackroo Inc.
(TSXV: AKR) (OTC: AKRFF) ("Ackroo" or the "Company"), a gift card,
loyalty and rewards technology and services provider, today
announced it has closed a private placement for gross proceeds of
$587,316. In connection with closing,
the Company issued 2,936,580 common shares to subscribers at a
price of $0.20 per share. All
securities issued on closing of the private placement are subject
to a four month and a day hold period. No finder's fees or
commissions were paid in connection with closing of the private
placement.
"This financing plays a very important role in supporting our
growth plans" said Steve Levely,
chief executive officer at Ackroo. "We initially were seeking up to
$2 million in this private placement
but after restructuring the final $1,130,000 of our earn-out agreement with Dealer
Rewards Canada we began seeking a smaller amount to support our
short term needs. Instead the Company's main focus was raising
enough working capital to support both the lump sum Dealer Rewards
payment in July as well as additional working capital to support
our organic growth plans. The capital raised allows us to
support both initiatives, and is a great win for the Company and
shareholders."
About Ackroo
Ackroo provides gift card and loyalty processing solutions to
help small to medium sized businesses attract, retain and grow
their customers and their revenues. Through a SaaS based business
model Ackroo provides an in-store and online automated solution to
help merchants process gift card & loyalty transactions at the
point of sale, provide key administrative and marketing data, and
to allow customers to access and manage their gift card and loyalty
accounts. Ackroo also provides important marketing services to
assist their merchants with utilizing Ackroo's technology solution.
Ackroo is headquartered in Ottawa,
Canada. For more information, visit: www.ackroo.com.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release. Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward Looking Statements
These forecasts and forward-looking statements are not
guarantees of future performance and activities and are subject to
risks and uncertainties. The company has based these
forward-looking statements on assumptions and assessments made by
its management in light of their experience and their perception of
historical trends, current conditions, expected future developments
and other factors they believe to be appropriate. Important factors
that could cause actual results, developments and business
decisions to differ materially from those anticipated in these
forward-looking statements include, but are not limited to: the
company's ability to raise enough capital to support the company's
go forward plans; the overall global economic environment; the
impact of competition and new technologies; general market,
political and economic conditions in the countries in which the
company operates; projected capital expenditures and liquidity;
changes in the company's strategy; government regulations and
approvals; changes in customers' budgeting priorities; plus other
factors that may arise. Any forward-looking statements in this
press release are made as of the date hereof, and the company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
SOURCE Ackroo Inc.