RAYL Innovations Provides Update on IPO Planning and Leadership Changes
April 9, 2020
PEMBROOKE ANNOUNCES $250,000 FINANCING
Vancouver, B.C., April 9, 2020 – Pembrooke Acquisition Group Inc. ("Pembrooke" or the "Company"), reports that it is undertaking a non-brokered private placement for up to $250,000 priced at $0.10 per share.
Proceeds from this financing shall be used by the Company to fund transaction expenses associated with the previously announced acquisitions (see news release dated March 27, 2020) and for general corporate purposes.
As previously reported, the Company has announced its intent to acquire two companies, PostSocratic Ventures Inc. and RAYL Ventures Inc., and upon completion of the transactions, Pembrooke will undertake a name change to RAYL Holdings Inc. The resulting issuer will be focused on financial technology development and sales in the payments and processing sector.
Closing will be subject Board approval and any shares issued will be subject to a four-month hold period.
For more information contact:
Pembrooke Acquisition Group Inc. Jeremy Wright, Director +1 (604) 837-7990 email@example.com
Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) ability to complete the Transaction and the financings; (ii) a change in market conditions; and (iii) the fact that the Company has limited or no operating experience, and future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements.