Interfield Global Software Inc. Announces First Closing of Private Placement Financing
Summary
The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (MI 61-101) contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the subject matter of the Offering does not exceed 25% of the market capitalization of the Company as calculated in accordance with MI 61-101.The gross proceeds from the Offering will be used by the Company for general corporate and working capital and to retire a small amount of existing shareholder debt (approximately $50,000). The Offering will be completed pursuant to the accredited investor exemption from the prospectus requirements under applicable Canadian securities laws. Interfield Solutions is a software company that services numerous industrial segments worldwide including oil and gas, mining and renewables. Such factors include: general business, economic, competitive, political and social uncertainties; delay or failure to receive any necessary board, shareholder or regulatory approvals, including the approval of any applicable regulatory authority; and that factors may occur which impede or prevent the Companys future business plans. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.