Boardwalktech closes final tranche of private placement at C$0.05

Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) has closed the second and final tranche of a non-brokered private placement, issuing 1,690,000 units at C$0.05 per unit for gross proceeds of approximately C$84,500.

Across both tranches, the company issued a total of 17,490,000 units, raising aggregate gross proceeds of C$874,500.

Each unit consists of one common share and one warrant, with each warrant entitling the holder to purchase one common share at C$0.06 for a period of two years from the date of issuance.

Finders involved in the second tranche received 8% cash commissions totaling C$6,760 and 135,200 non-transferable finder's warrants, exercisable at C$0.06 per share for two years.

The company stated it intends to use net proceeds for general corporate purposes. The offering remains subject to final approval from the TSX Venture Exchange. Securities issued are subject to a hold period of four months plus one day from the date of issuance.

The units were issued under exemptions from prospectus requirements pursuant to National Instrument 45-106 respecting Prospectus Exemptions. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States.

Boardwalktech is headquartered in Cupertino, California.

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