Internet of Things Announces Closing of $2.3 Million Private Placement
Summary
TORONTO, Jan. 29, 2018 (GLOBE NEWSWIRE) -- Internet of Things Inc. (TSX VENTURE:ITT) (OTC:INOTF) (FRANKFURT: 71T ) (“ ITT ” or the “ Company ”) a software and solutions provider to the Internet of Things (the “ IoT ”) market, announces that it closed the non-brokered private placement of 23,000,000 equity units of the Company (" Equity Units ") at a price of $0.10 per Equity Unit for gross proceeds of up to $2,300,000 (the " Private Placement "), which was increased due to investor demand.The securities issued pursuant to the Private Placement are subject to a hold period of 4 months and one day from the closing date.The Company acquires and implements strategic and disruptive technology solutions targeting the industrial IoT markets, including manufacturing, energy management, agriculture, transportation, social, cybersecurity, e-commerce and fintech.ITT Inc. has a joint venture partnership with New Hope Data Technology Co. Ltd for China.The Company does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws.
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