October 10, 2022 – Newswire – Vancouver, British Columbia – Roadman Investments Corp. (TSXV: LITT) (OTC: RMANF) (“Roadman” or the “Company”) announces that it proposes to complete a non-brokered private placement (the “Offering”) of up to 30,103,121 units of the Company (the “Units”) at a price of $0.035 per Unit, for gross proceeds of up to $1,053,609. Each Unit will consist of one common share (“Share”) of the Company and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder, on exercise, to purchase one Share for a period of 36 months following the closing date of the Offering at the exercise price of $0.05 per Share.
Net proceeds from the Offering will be used approximately as follows: (i) 51% to pursue potential investment opportunities; (ii) 11% for management fees to Company officers; and (iii) 38% for general working capital purposes.
In connection with the Offering, the Company may pay finders’ fees and/or issue finders’ warrants on the same terms as the Warrants, to eligible parties who have assisted by introducing subscribers to the Offering.
The Company will issue common shares of the Company to Winchester Advisory Ltd., an arm’s length third-party, equal to 1% of the aggregate Units issued, in consideration for administrative services rendered in support of the Offering.
All securities to be issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws and, as applicable, the TSX Venture Exchange hold period. Completion of the Offering remains subject to the approval of the TSX Venture Exchange. The Units will be offered pursuant to exemptions from the prospectus requirements.
About Roadman Investments Corp.
Roadman Investments Corp. is a Canadian Venture Capital, Investment and Advisory Firm that strives to actively drive innovation and accelerate growth for its shareholders. Roadman invests capital into private and public companies that offer excellent growth opportunities.
Cautionary and Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements in respect of the Offering and use of proceeds.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, and that financing will be available if and when needed and on reasonable terms. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, increase in costs, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.