Shelfie-Tech Ltd. (CSE: SHLF) (OTCQB: SHLFF), a technology company providing shelf inventory management solutions for the retail industry, has completed a non-brokered private placement, raising gross proceeds of approximately CAD$1.71 million, according to an announcement disseminated on behalf of Shelfie-Tech Ltd..
The placement involved the issuance of 961,642 common shares at CAD$1.78 per share. The company will also pay approximately CAD$38,340 in finders’ fees and issue 21,539 shares to eligible finders. All securities issued are subject to a four-month-and-one-day hold period.
Shelfie-Tech intends to use the proceeds to complete its acquisition of Aspect Information Systems Ltd., as well as for general working capital and corporate purposes. The acquisition is a key strategic move for the company, which specializes in robotic retail shelf monitoring systems that use patent-pending technology, machine learning, and image processing algorithms to automatically optimize shelf inventory management for large grocery stores and supermarkets.
The successful closing of the private placement provides Shelfie-Tech with the necessary capital to pursue its acquisition strategy and strengthen its financial position. For investors, the completion of the financing demonstrates progress on the company’s stated objectives and may signal confidence in its business model. The full press release can be viewed at https://nnw.fm/NsL8U.
For the latest news and updates relating to SHLFF, the company’s newsroom is available at https://nnw.fm/SHLFF. The announcement was distributed by NetworkNewsWire (NNW), a specialized communications platform focused on financial news and content distribution for private and public companies and the investment community.
NNW is one of more than 75 brands within the Dynamic Brand Portfolio at IBN, which provides access to a vast network of wire solutions through InvestorWire, article and editorial syndication to 5,000+ outlets, enhanced press release enhancement, social media distribution, and tailored corporate communications solutions.
The financing comes as Shelfie-Tech seeks to capitalize on growing demand for automated retail solutions that can improve operational efficiency and reduce costs for grocery retailers. With the proceeds in place, the company can now focus on integrating Aspect Information Systems and advancing its technology platform.
