Datable Technology Corporation Completes Private Placement Of Units

    Vancouver, British Columbia, August 8, 2018. Datable Technology Corporation (TSXV:DAC) (the “Company”) announces that it has closed a non-brokered private placement of 13,569,865 units of the Company (the “Units”) at $0.105 per Unit for gross proceeds of approximately $1,424,835 (the “Offering”).

    Each Unit consists of one common share in the capital of the Company (a “Share”) and one-half of a share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.20 per Warrant Share for a period of two years from the closing of the Offering.

    The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date a news release is issued announcing the accelerated expiry date in the event that the volume weighted average price of the Shares has been greater than $0.40 for any ten consecutive trading days after four months and one day after closing of the Offering (“Accelerated Expiry”).

    The Company has paid eligible finders a cash commission in the aggregate amount of $48,469.58 on the Offering within the amount permitted by the policies of the TSX Venture Exchange (the “Exchange”).

    In addition, 110,000 Units were issued to an eligible finder along with 110,000 non-transferable finder’s warrants (the “Finder’s Warrants”), each Finder’s Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a “Finder’s Warrant Share”) at a price of $0.20 per Finder’s Warrant Share for a period of two years from the closing of the Offering, subject to Accelerated Expiry. Another eligible finder also received 66,710 Finder’s Warrants.

    380,905 finder’s unit warrants were also issued to eligible finders (the “Finder’s Unit Warrants”).  Each Finder’s Unit Warrant entitles the holder to purchase one unit of the Company (a “Finder’s Unit”) at a price of $0.20 per Finder’s Unit.  Each Finder’s Unit will consist of one common share in the capital of the Company (a “Finder’s Unit Share”) and one-half of a share purchase warrant (each whole warrant, a “Finder’s Unit Warrant”).  Each Finder’s Unit Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a “Finder’s Unit Warrant Share”) at a price of $0.20 per Finder’s Unit Warrant Share for a period of two years from the closing of the Offering, subject to Accelerated Expiry.

    Two insiders of the Company subscribe to 758,690 Units which participation is considered as “related party transactions” as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”).  The Company is relying on an exemption from the requirement to obtain formal valuation and minority shareholder approval as the fair market value of the participation in the Offering by the insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

    All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.  The net proceeds of the Offering will be used for sales and marketing, product development and for working capital.

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

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