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April 24, 2018

Kneat Announces Closing of $6.185 Million Brokered Private Placement

HALIFAX, April 10, 2018 – kneat.com, inc. (TSX-V: KSI) (“Kneat” or the “Company”) is pleased to announce that it has closed its previously announced brokered private placement for aggregate gross proceeds of $ $6,184,647 (the “Offering”), which was increased from the previously announced amount of $5 million due to investor demand. Through a syndicate of agents led by Echelon Wealth Partners Inc., and including Bloom Burton Securities Inc. and Industrial Alliance Securities Inc. (together, the “Agents”), the Company issued 6,871,830 common shares at an issue price of $0.90 per common share. The Company paid the Agents a cash commission equal to six percent (6%) of the gross proceeds of the Offering and issued warrants entitling the Agents to purchase that number of common shares equal to six percent (6%) of the common shares sold as part of the Offering at an exercise price of $0.90 per common share for a period of 18 months (excluding the 922,221 common shares issued under the President’s List as part of the Offering).   Read the full press release here.