Republic Technologies announces $3 million private placement offering

Republic Technologies Inc. (CSE: DOCT) announced a non-brokered private placement offering of up to 14,087,000 special warrants priced at US$0.21 per warrant for aggregate gross proceeds of up to $3.0 million.

Each special warrant will automatically convert into one common share at no additional cost on the earlier of two dates: five business days after the company files a prospectus supplement with securities commissions, or four months and one day after the offering closes.

The offering requires approvals including from the Canadian Securities Exchange. Securities issued under the offering will be subject to a four-month hold period from closing date plus any other applicable legal restrictions.

The Vancouver-based company stated proceeds will be used for business operations and advancement of its Ethereum-powered attestation technology. Republic Technologies operates blockchain infrastructure on the Ethereum network and maintains an ETH-denominated treasury.

The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent proper registration or applicable exemptions.

The announcement was made through a press release statement from the company.

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