ICEsoft Technologies Canada Corp.’s C$1.5 Million Private Placement

Fasken Martineau DuMoulin LLP advised ICESoft on the offering.

ICEsoft Technologies Canada Corp. (CSE: ISFT) has completed its strategic non-brokered private placement of 32,000,000 units at C$0.05 per unit for gross cash proceeds of C$1,500,000 and the settlement of C$100,000. Each unit consists of (i) one common share in the capital of the Company (each, a “Common Share”), and (ii) one Common Share purchase warrant (each full warrant, a “Warrant”), with each Warrant entitling the holder to subscribe for one additional Common Share at an exercise price of C$0.08 per share at any time prior to the day that is 36 months from the grant of the Warrant.

The private placement was led by I Shen Capital Fund I L.P., through its General Partner, Shen Capital Management Inc. which subscribed for C$1,300,000 of units.

ICEsoft is a software-as-a-service company (“SaaS”), whose software (also available as freeware with a pay to use version), is used by developers, companies and other customers, to provide advanced notification and RIA solutions for desktop and mobile enterprises. 

The Fasken team was led by Samuel Li (Picture) and included Leo Daniels (Corporate Finance).

Involved fees earner: Leo Daniels – Fasken Martineau; Samuel Li – Fasken Martineau;

Law Firms: Fasken Martineau;

Clients: ICEsoft Technologies Canada Corp. ;

Author: Sonia Carcano