Vancouver, British Columbia--(Newsfile Corp. - October 10, 2019) - Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) ("Upco") is pleased to announce that it intends to complete a private placement of up to 6,000,000 units ("Units") at a price of $0.10 per unit, for gross proceeds of approximately $600,000 (the "Offering"). Each Unit is comprised of one common share ("Share") and one-half of one common share purchase warrant ("Warrant") where each whole Warrant entitles the holder to purchase one additional common share ("Warrant Share") at an exercise price of $0.15 per Warrant Share until 4:00 p.m. (Vancouver time) on the first business day after the date that is four (4) years from the closing date (the "Closing Date") of the offering of the Units. On June 21, 2019, Bardi Co. was appointed by Upco as its investment banking advisor. Bardi Co. is a transnational boutique investment bank headquartered in Los Angeles, CA, USA and focuses on providing Merger and Acquisition (M&A), and corporate finance advisory services to growing middle market companies.
Upco intends to use the net proceeds from the Offering for general corporate and working capital purposes. The securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period. The offering is expected to close on about November 10, 2019.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp.
Please visit www.upcointernational.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
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