Perk Labs raises CAD$471k, fortifying its payment and ordering technology offerings

Perk Labs raises CAD$471k, fortifying its payment and ordering technology offerings

Perk Labs, a company specialising in ordering and payment technology, recently declared the successful closure of a non-brokered private placement of units and convertible debentures, cementing a promising financial stride for the technology firm.

Perk Labs, through its ownership of Getit Technologies Inc. and Perk Hero Software Inc., plays a pivotal role in linking businesses and consumers via mobile apps and web-based payment services, designed to streamline both the consumer experience and merchant digitalisation.

The financial details reveal that the company managed to raise gross proceeds of CAD$21,000 through the private placement of 1,312,500 units at CAD$0.016 per unit. Each unit comprises one common share of the company and one common share purchase warrant. These warrants enable holders to purchase an additional common share at a price of CAD$0.05 per common share for a 24-month duration from the closing date. Alongside, the firm garnered gross proceeds of $450,000 through the private placement of convertible debentures that bear a 15% per annum interest and mature one year post-issuance.

Diving deeper into what Perk Labs Inc. offers, the company has crafted a niche in developing applications, payment processing, and loyalty rewards. Its innovative technology aims to bridge merchants and consumers through user-friendly mobile applications and digital payment services. This interconnection not only enhances consumer experience but also augments merchant digitalisation, providing a seamless, efficient transactional environment for both parties.

With the fresh influx of CAD$471,000, the net proceeds from the private placements will be channelled towards general working capital purposes. This financial bolstering will also address accounts payable and employee salaries, providing a steady financial base for the company to navigate through its operational demands and perhaps, further innovation in its technological offerings.

An intriguing detail surfaces with the company entering a Debt Settlement Agreement with an arms-length creditor. This agreement pertains to the settlement of CAD$20,000 debt for consulting and design services provided by the creditor. In a full and final settlement of this debt, the company issued 1,250,000 Units to the creditor, reflecting an adept handling of financial obligations and striking a balance in its financial management.

All securities issued in alignment with the private placements are bound to a statutory hold period of four months and a day subsequent to the closing. No quotes were provided within the original text to be inserted into this rewrite. Furthermore, no information regarding previous investments was available in the provided text.

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