February 27, 2021

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POSaBIT Announces Strategic Expense to Accelerate Following Stage of Development

2 min read

TORONTO & SEATTLE–(Business WIRE)–POSaBIT Programs Corporation (CSE: PBIT) (“POSaBIT” or the “Company”), a primary economical technologies company offering special payment processing and place-of-sale (POS) systems for funds-only firms with a emphasis on the cannabis marketplace, announces that it has closed a non-brokered private placement (the “Offering”) for gross proceeds of $2 million USD. The Offering consists of approximately 11 million units at a rate $.23 CAD per unit, with every device consisting of a single popular share and .3627 share obtain warrant just about every full warrant will entitle the holder to buy one popular share at a price of $.35 CAD for each share for a time period of a few years. An mixture of 4 million total warrants were issued. The device cost signifies an 8% top quality to the 30-working day quantity weighted common trading selling price of POSaBIT shares.

“The potent desire shown by our new buyers signifies a highly effective vote of self esteem in our Business,” said Ryan Hamlin, CEO/co-founder of POSaBIT. “We come to feel very superior about our execution exactly where our product or service innovation enabled considerable 2020 development, and we see huge possibility to go on investing in our small business. The funds infusion will aid us spend to go after the untapped opportunity of our sector-foremost suite of solution offerings in 2021 and outside of.”

The securities issued pursuant to the Supplying will be subject matter to a four month hold time period in accordance with relevant Canadian securities rules.

This information release shall not represent an offer you to market or solicitation of an provide to obtain the securities in any jurisdiction. The securities will not be and have not been registered beneath the United States Securities Act of 1933, as amended, and may perhaps not be available or bought in the United States absent registration or relevant exemption from the registration necessities.

About POSaBIT

POSaBIT (CSE: PBIT) is a economic technology enterprise that delivers special and revolutionary, blockchain-enabled payment processing and stage-of-sale methods for money-only firms. POSaBIT specializes in resolving ache factors for complex, significant-danger, emerging industries like cannabis with an all-in-just one solution that is compliant, user-friendly and makes use of major-of-the-line hardware. POSaBIT’s one of a kind solution delivers a safer and clear surroundings for merchants while producing a far better all round encounter for the purchaser. For extra facts, visit: www.posabit.com.

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