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Raindrop Closes Initial Public Offering


Raindrop closes $800,000 initial public offering

2020-01-31 12:56 ET - News Release

Mr. Satvir Dhillon reports

RAINDROP VENTURES RAISES $800,000 IN INITIAL PUBLIC OFFERING

Raindrop Ventures Inc. has completed its initial public offering of common shares through its agent, Leede Jones Gable Inc. The offering of eight million common shares was fully subscribed for gross proceeds of $800,000. The company anticipates that its common shares will begin trading on the Canadian Securities Exchange under the symbol RAYN on Feb. 3, 2020. In consideration for the agent's services provided in connection with the offering, the company paid a cash commission of 8 per cent of the gross proceeds of the offering and a corporate finance fee. The company also issued 640,000 non-transferable and non-assignable options to purchase common shares of the company, each agent's option exercisable to purchase one common share for a price of 10 cents per common share until Jan. 31, 2022.

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