Quisitive Announces Strategic $20 Million Investment by FAX Capital
Summary
The Private Placement is expected to close in mid-March and remains subject to the execution of final documentation and the approval of the TSX Venture Exchange. “With the recent developments of the LOI with a bank sponsor, the engagement of key payments industry executives, and the accomplishment of achieving ‘Microsoft Co-sell Ready Status,’ we are making major strides to commercialize LedgerPay at scale. FAX has agreed to a lock-up for a period of 12 months and will receive a capital commitment fee payment from the Company equal to 3.5 per cent of the aggregate subscription amount. FAX initially intends to invest in approximately 10 to 15 high-quality small cap public and private businesses located primarily in Canada and, to a lesser extent, the United States. Neither the Company nor FAX undertakes any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.