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8-K - FORM 8-K - PORTUS Corp | daneform8k140218_ppofferingv.htm |
Dane Exploration Inc. Announces Proposed Private Placement Offering
February 18, 2014 --- Vancouver, British Columbia --- Dane Exploration Inc. (the Company) (OTCBB: DANE) is pleased to announce its board of directors have approved a proposed offering of up to 2,000,000 units of the Company (Units), at a price of $0.30 per Unit, for total proceeds of $600,000 in separate concurrent private placement offerings as set forth below.
US Offering
The Companys board of directors approved a private placement offering (the US Offering) of up to 1,000,000 Units pursuant to the provisions of Rule 506(b) of Regulation D of the United States Securities Act of 1933, as amended (the U.S. Securities Act). Each Unit will consist of one share of the Companys common stock (a Share) and one-half of one share purchase warrant (each a Warrant), with each Warrant entitling the holder to purchase one additional Share at a price of $0.30 per Share for a period of one year from the date of issuance. The US Offering will be made to persons who are accredited investors as that term is defined under Regulation D of the U.S. Securities Act.
Foreign Offering
The Companys board of directors also approved a private placement offering (the Foreign Offering) of up to 1,000,000 Units pursuant to the provisions of Regulation S of the U.S. Securities Act. Each Unit is on the same terms as the U.S. Offering. The Foreign Offering will be made to persons who are not residents of the United States and are otherwise not U.S. Persons as that term is defined in Rule 902(k) of Regulation S of the U.S. Securities Act.
The proceeds of the financing will be used for the ongoing development of the Companys food service cloud platform as well as for general working capital purposes.
The above does not constitute an offer to sell or a solicitation of an offer to buy any of the Companys securities in the United States. The securities have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
For additional information please contact:
Dane Exploration Inc.
500 McLeod Trail East - #5178
Bellingham, Washington USA 98226
Dale Murray, CEO and President
Telephone: (954) 778-8211
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect managements current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Companys control. Such factors include, among other things: risks and uncertainties relating to the Companys limited operating history, ability to successfully develop its food service cloud portal and raise sufficient financing in order to meet the costs of such development. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.