Wall Street Signals: VSBLTY Announces Closing of Upsized and Oversubscribed Public Offering and Private Placement of Units for Total Gross Proceeds of $9.78 Million

VSBLTY Announces Closing of Upsized and Oversubscribed Public Offering and Private Placement of Units for Total Gross Proceeds of $9.78 Million


NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VSBLTY Groupe Technologies Corp. (the "Company" or "VSBLTY") (CSE: VSBY) is pleased to announce that it has closed its previously announced public offering of 18,400,000 units of the Company (the "Units") at a price of $0.50 per Unit for aggregate gross proceeds of $9,200,000 (the "Offering"), including the full exercise of the Agent's (as defined herein) over-allotment option.

Each Unit is comprised of one common share (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.65 until June 29, 2024. The Warrants are expected to commence trading on the Canadian Securities Exchange under the symbol "VSBY.WT.A" on June 30, 2021.

he Offering was directed on an industrially sensible "best endeavors" premise by Echelon Wealth Partners Inc. (the "Specialist"). As pay, the Company paid to the Agent a money charge of around $644,000 and gave to the Agent a total of 1,288,000 Warrants (the "Specialist's Warrants"). Every Agent's Warrant qualifies the holder thereof for buying one Common Share at an activity cost of $0.50 per Common Share until June 29, 2024. 

The Units were offered and sold via a short structure plan documented in the areas of British Columbia, Alberta, Saskatchewan, and Ontario. A duplicate of the last short structure outline dated June 24, 2021, is accessible on SEDAR at  www.sedar.com.

In addition, the Company is pleased to announce the closing of its U.S. non-brokered private placement of units, with terms identical to the Units, pursuant to which the Company issued 1,162,384 units for gross proceeds of $581,192 (the "Concurrent Private Placement"). The securities issued pursuant to the Concurrent Private Placement are subject to resale restrictions, including a Canadian four-month hold period. No fees or compensation are payable to the Agent in connection with the Concurrent Private Placement. Certain insiders of the Company acquired units in the Concurrent Private Placement. The participation by such insiders in the Concurrent Private Placement constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the 

shares subscribed for by the insiders, nor the consideration for the shares paid by such insiders, would exceed 25% of the Company's market capitalization.

The Company intends to use the proceeds of the Offering and the Concurrent Private Placement for sales & marketing, research & development and for other general corporate purposes, as more particularly set out in the final short form prospectus dated June 24, 2021, available under the Company's SEDAR profile at www.sedar.com.

On Behalf of the Board of VSBLTY Groupe Technologies Corp.

"Jay Hutton"

CEO & Director

About VSBLTY (www.vsblty.net)

Headquartered in Philadelphia, VSBLTY (CSE: VSBY) is a leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company's public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking 

statements except as required by Canadian securities laws.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the content of this news release.

SOURCE VSBLTY Groupe Technologies Corp.