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An update from Looking Glass Labs Ltd. ( (TSE:LABZ) ) is now available.
Metasphere Labs Inc. plans to raise up to $600,000 through a non-brokered private placement of up to 12 million units priced at $0.05 each, with each unit comprising one common share and one four-year warrant exercisable at $0.06. The financing, which has been approved by the company’s independent directors and is expected to close later this month subject to Canadian Securities Exchange approval, will be used for working capital and general corporate purposes and is being conducted under a CSE financial hardship exemption that allows Metasphere to issue more than 100% of its current fully diluted share capital without shareholder approval, highlighting the company’s strained financial position while providing near-term funding support.
More about Looking Glass Labs Ltd.
Metasphere Labs Inc. is a Vancouver-based company that specializes in integrating blockchain technology into real-world applications, with a particular focus on environmental sustainability and social impact solutions.
Average Trading Volume: 33,137
Technical Sentiment Signal: Hold
Current Market Cap: C$2.07M
See more insights into LABZ stock on TipRanks’ Stock Analysis page.