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ProntoForms Corporation completes private placement


 

OTTAWA, March 12, 2014 - ProntoForms Corporation, a leading mobile form business process solution for enterprises and SMBs, today announced that it has issued a total of 3,333,333 common shares and 1,666,666 common share purchase warrants for gross proceeds of $1,000,000 through a non-brokered private placement.

This private placement involved the sale of units (each a "Unit"), each comprised of one common share and one half common share purchase warrant, for a unit price of $0.30. Each whole warrant entitles the holder to acquire one common share of ProntoForms at an additional purchase price of $0.45 per share for eighteen months from closing.

In connection with the placement ProntoForms also paid a total of $70,000 in cash and issued a total of 233,333 warrants to agents as commission for their efforts. Each agent warrant entitles the holder to acquire one Unit at a purchase price of $0.45 for eighteen months from closing.

The financing included participation by insiders of ProntoForms for Units representing less than 10% of the Units issued in the offering.

The net proceeds of the proposed offering will be used to fund general corporate purposes.

The securities issued under this private placement are and will be subject to restrictions on transfer, including a hold period ending four months after issuance. The private placement remains subject to TSX Venture Exchange approval. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities.


About ProntoForms Corporation (https://www.prontoforms.com)

ProntoForms is a mobile workflow solution used by over 2,500 business customers to collect, receive and submit data in the field. Available for smartphones and tablets, the ProntoForms solution incorporates a mobile device App, a Web management portal to manage teams and data flow, and provides the ability to export or connect data to the back office or to popular cloud services. ProntoForms is the

Frost & Sullivan winner of the North American Customer Value Leadership Award for Mobile Forms.

ProntoForms Corporation, formerly TrueContext Mobile Solutions Corporation, has a powerful and proprietary patent portfolio, from which the ProntoForms mobile App and Web reporting portal havebeen developed. The company trades on the TSXV under the symbol PFM. ProntoForms is the registered trademark of ProntoForms Inc., a wholly-owned subsidiary of ProntoForms Corporation.

 

 

Contact Information ProntoForms Corporation
Matthew Ross - Media Manager
 
 
 
 
Certain information in this press release may constitute forward-looking information. For example, statements about the Company's future growth or value are forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company.
 
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 
Contact Information
 

Philip Deck
co-Chief Executive Officer
ProntoForms Corporation
416.702.3974


Dave Croucher
Chief Financial Officer
ProntoForms Corporation
613.286.9212