Vancouver, British Columbia--(Newsfile Corp. - October 17, 2019) - Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) ("Upco") is pleased to announce it has closed the first tranche of the previously announced financing to rasie up to $600,000 at $0.10 per unit. Pursuant to the first tranche, Upco has issued 4,500,000 units at $0.10 per unit for gross proceeds of $450,000. Each unit consists of one 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 for a period of 4 years. This first tranche was subscribed by one US based family office. Bardi Co. was paid a finders fee of $22,500. The Proceeds will be used for general working capital.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
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