Toronto, Canada, January 8, 2016 – Internet of Things Inc. (TSX-V: ITT) (“IoT Inc.” or the “Company“), an IoT technology accelerator and industry acquisition company, is pleased to announce that it has closed its previously announced convertible debenture financing with a principal amount of $300,000. The key terms of the convertible debentures are as follows: two year term; interest of 12% per annum; and, convertible into common shares of the Company at an exercise price of $0.10 per share. Each Unit will be comprised of one common share and one warrant, with each warrant exercisable into a common share at an exercise price of $0.125 per share for a period of 3 years.
All securities issued pursuant to the financing are subject to a four month hold period.
About Internet of Things Inc. (TSX-V: ITT)
Internet of Things Inc. (www.iotintl.com) is an IoT technology accelerator and industry acquisition company. ITT is focused on accelerating IoT-based technology companies, and the development and implementation of disruptive IoT-based solutions. Internet of Things Inc. will partner with companies across a wide range of industries to leverage the power of IoT. The Company maintains offices in Toronto, Canada and Kolkata, India.
To learn more, visit us on the web.
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. We undertake no obligation to reissue or update any forward looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement.
NEITHER THE 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
For further information, contact:
Internet of Things Inc.
President & CEO
Tel: (416) 677-9277
Fax: (866) 927-1222