Proposed Acquisition of Plymouth Rock Technologies Inc.
Vancouver, British Columbia–(Newsfile Corp. – April 10, 2018) – Alexandra Capital Corp. (CSE: AXC) (“Alexandra” or the “Company“) is pleased to announce it has entered into a non-binding letter of intent (“Letter of Intent“) with Plymouth Rock Technologies Inc., (“PRT”). PRT is a private Delaware corporation that is developing a system using Wi-Fi radar techniques for threat detection screening in Wi-Fi enabled zones in buildings and places, like airports, shopping malls, schools and sports venues. PRT is also developing a millimetre wave antenna which can be drone mounted to detect weapons such as guns, suicide vests, and explosives in mass gatherings and has both military and civilian applications. PRT is also working on other threat detection systems and technologies that can be integrated into existing screening environments.
Pursuant to the Letter of Intent, the Company, PRT and its shareholders will enter into a definitive agreement (the “Definitive Agreement“) whereby the Company will acquire all of the issued and outstanding common shares of PRT in consideration for the issuance by the Company of 3,000,000 common shares of the Company at closing.
All common shares issued as consideration for the PRT shares will be subject to escrow and resale restrictions under securities law and CSE policy
Cancellation of Proposed Acquisition WMC ApS.
Further to the announcement made December 1, 2017, Alexandra announces it will not be completing the proposed acquisition of WMC ApS, a private Danish company based in Copenhagen which brokers and develops payment processes in crypto currency transactions.
Re-pricing of Non-Brokered Private Placement
The Company is amending the terms of the non-brokered private placement previously announced on December 27, 2017. The Company proposes to issue 6,250,000 units at a price of $0.40 for gross proceeds of $2,500,000. Each unit will consist of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.60 for 1 year. The units issued in the offering are subject to a four month hold period.
Finders’ fees are payable on a portion of the private placement, in cash and finders’ warrants, each equal to six (6%) percent of the amount placed by the finder. The finders’ warrants will be exercisable for one year at a price of $0.40 per finders’ warrant share.
Proceeds from the private placement will be used for working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
President and Director
For further information contact:
Mr. Jeremy Poirier
+1 (604) 722-9842
Ms. Vivian Katsuris
+1 (604) 729-2500
(Not for dissemination in the United States of America)
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.