Sora Capital announces increase to private placement

Vancouver, BCMay 29, 2017

PREVIOUSLY RELEASED ON MAY 29TH, 2017

Sora Capital Corp. (TSXV:SOR) (“Sora” or the “Company”) announces today that further to its press release dated March 31, 2017, it has applied to the TSX Venture Exchange (“TSXV”) to increase the amount of its non-brokered private placement of units from a maximum of $1,000,000 to a maximum of $2,000,000.

Each unit is being issued at a price of $0.20 per unit and consists of one common share and one common share purchase warrant of the Company. Each warrant is exercisable to purchase one additional common share of the Company at an exercise price of $0.40 per share for a period of 12 months from the date of issuance. A first closing was completed on May 2, 2017, resulting in the issuance of 3,000,000 units for gross proceeds of $600,000.

The second and final closing is expected to be completed on or before May 31, 2017, and upon completion the Company expects to have issued an aggregate of 10,000,000 units for gross proceeds of $2,000,000. The Company may pay a finders fee in connection with the offering up to the maximum permitted under the TSX Venture policy.

The common shares and warrants will be subject to a four month hold period. The private placement is subject to the Company obtaining final acceptance from the TSXV upon the filing of required materials in due course.

The net proceeds received from the Offering will be used for general working capital and corporate purposes.

The Company also expects to close its transaction with ProSmart Sports Development Inc. and the shareholders of ProSmart announced in its news release of Feb. 8, 2017 before June 15, 2017, subject to Final Approval from the TSX Venture Exchange.

About Sora Capital Corp.

Based in Vancouver, BC, the Company (http://soracapital.ca) is an investment issuer, focusing on emerging companies in the Software as a Service (“SaaS”) sector of the technology industry, more specifically, companies with consumer facing products and services with revenue models, including subscriptions, transactional service fees and targeted advertising in the growing sports industry. Using the expertise of its management in both the venture finance and technology sectors, Sora identifies candidate companies in need of capital investment and operational support.(https://rosterbot.com) and HelpHub Services Inc. (https://helphub.me).

About RosterBot Inc.

RosterBot is the internet’s leading free sports team management service, and currently helps teams of all ages to “Take The Work Out of Play” in over 100 countries and more than 500 types of sports and activities worldwide. RosterBot offers the most comprehensive suite of team scheduling, bookkeeping, and collaboration tools available on mobile devices via the iTunes or Google Play stores and on the web at rosterbot.com

About HelpHub Services Inc.

HelpHub is a real-time open market connecting students and tutors anytime, anywhere. HelpHub enables students to instantly connect with experts in over 500 subjects, from over 60 countries. With whatever students need help—whether it's a five-minute session or an hour-long, recurring weekly session—HelpHub accommodates any schedule. HelpHub provides tools for tutors that allows them to manage, develop, and grow their tutoring business and also enables them connect with students via video, phone, in-person, and from their mobile devices. HelpHub is available on desktop or as an app for iOS devices in the iTunes store.

The shares of Sora Capital trade publicly on the TSX Venture Exchange under the symbol TSXV:SOR.

"Neither 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.”

 

Sora Capital Corp. has taken every precaution to provide the most accurate information possible. However it is provided without warranty or claim of reliability. It is accepted by the reader on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. The information and data were obtained from third party sources believed to be reliable, but we do not guarantee its accuracy. It is the responsibility of the reader to perform proper due diligence before acting upon any of the information provided.

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Reid Anderson

Reid Anderson