RAYL Innovations Provides Update on IPO Planning and Leadership Changes
February 4, 2022
Vancouver, B.C., February 04, 2022.RAYL Innovations Inc. ("RAYL" or the"Company"), is pleased to announce a non-brokered private placement financing for up to $10,000,000 priced at $0.50 per common share pursuant to the Offering Memorandum Exemption as defined by the Securities Act of the British Columbia Securities Commission. Closing will be subject to board approval, and any shares issued will be subject to a four-month hold period.
Proceeds from the financing shall be used for continued intellectual property development related to RAYL.Apptive and RAYL.Pay, working capital, and general corporate activities.
About RAYL Innovations Inc.
RAYL Innovations Inc. (“RAYL”) is a Vancouver-based Vancouver-basedFinTech company founded in 2020. RAYL offers application solutions for SME business owners and merchants through RAYL.Apptive and RAYL.ApptivePro; and will be positioned in the near term to provide integrated payment processing and other digital financial solutions. RAYL offers tremendous value to businesses by integrating critical business solutions, financial services, and data analytics with a unique pricing strategy all-in-one integrated and interoperable platform.
For further information on the Company, RAYL.Apptive and ApptivePro, RAYL.Pay, and RAYL.Financial, please visit our website at www.rayl.com.
ON BEHALF OF THE BOARD
Director, President & CEO
For Further Information Contact:
Jeremy Wright, CPA, CMA, Director
Unless otherwise denoted, all currencies in Canadian Dollars.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect“, "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements.
This news release may contain forward-looking statements and information concerning RAYL Innovations Inc. (“the Company”); and includes its wholly owned subsidiaries; RAYL Business Solutions Inc., and Post Socratic Ventures Inc.
The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the success of new product development, the Company’s ability to integrate acquired businesses and complete strategic acquisitions of additional business and other factors that affect demand for the Company’s products.
Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the Company’s actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to expenditures and other factors that affect demand for the Company’s products, industry competition, the need to effectively integrate acquired businesses, uncertainties as to the Company’s ability to implement its business strategy effectively in Canada and the United States, labor, equipment and material costs, access to capital markets, interest and currency exchange rates, technological developments, political and economic conditions and the Company’s ability to attract and retain key personnel.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether, as a result of new information, future events or otherwise, except as required by law.