02:19:21 EDT Thu 24 May 2018
Enter Symbol
or Name
USA
CA



Pool Safe Inc
Symbol C : POOL
Shares Issued 66,408,416
Close 2018-02-12 C$ 0.125
Recent Sedar Documents

Pool Safe closes $300,000 first tranche of financing

2018-02-13 14:51 ET - News Release

Mr. Steven Glaser reports

POOL SAFE ANNOUNCES INITIAL CLOSING OF CONVERTIBLE DEBENTURE FINANCING

Pool Safe Inc. has closed the first tranche of $300,000 of a non-brokered private placement for gross proceeds of up to $500,000 through the issuance of $1,000 principal amount convertible debenture units. The terms of the offering remain the same as disclosed in the company's news release dated Jan. 23, 2018. The convertible debenture units bear interest from the date of closing at 10 per cent per year, payable quarterly and will mature two years following the closing date. The convertible debenture units are convertible at the option of the holder into units of the company at any time prior to the close of business on the maturity date at a conversion price of 11 cents per underlying unit. Each underlying unit comprises one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of two years following the date hereof at an exercise price of 15 cents per warrant share, subject to adjustment in certain events.

In connection with the closing of this tranche, the company paid certain eligible persons cash commissions totalling $21,600 and granted 196,364 finder's warrants to such eligible persons, with each finder's warrant entitling the holder thereof to acquire one common share of the company at a price of 11 cents per common share for a period of 24 months following the closing date. All of the securities issued in connection with the offering are subject to a hold period of four months plus one day from the date of closing pursuant to applicable securities laws. The company is hopeful that it may complete one or more additional tranches of the offering in the near future.

About Pool Safe Inc.

Pool Safe designs, develops and distributes a product known as the PoolSafe, which functions as a multipurpose personal poolside attendant. The PoolSafe is designed to provide safety, convenience and peace of mind for hotels, resorts, waterparks and cruise ship guests. Functions include: lockable safe, solar-powered charger for USB compatible electronic devices including phones, cameras and tablets in addition to a server call-button, a beverage cooler and holders.

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