Hello Pal International Inc., a provider of an international live-streaming, language learning and social-crypto platform, is pleased to announce that the Company has satisfied the outstanding conditions for the release of the escrowed funds from the Company’s previously announced C$7.25 million brokered private placement of subscription receipts, which closed on May 12, 2021.
In connection with the escrow release, the 5,800,000 Subscription Receipts issued pursuant to the Offering have been automatically exercised into 5,800,000 common shares of the Company and 2,899,999 common share purchase warrants of the Company.
The Company has used a portion of the escrowed proceeds to fund the cash consideration payable to the vendor in connection with the Company’s previously announced indirect acquisition of an interest in a number of mining rigs dedicated to mining Dogecoin and Litecoin (the “Transaction”), which closed on May 25, 2021.
Find the full release here at: [https://ca.finance.yahoo.com/news/hello-pal-announces-release-escrowed-190000002.html](https://ca.finance.yahoo.com/news/hello-pal-announces-release-escrowed-190000002.html)
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