Sora Capital closes first tranche of $1 million private placement

Vancouver, BCMay 6, 2017

Sora Capital Corp. (TSXV:SOR) (“Sora” or the “Company”) announces that the Company has closed a first tranche of its $1,000,000 non-brokered private placement (the “Offering”) that was announced March 31, 2017.

Aggregate proceeds of $600,000 were raised on this first tranche closing. 3,000,000 units (the “Units”) at a price of $0.20 per Unit were issued.  Each Unit consists of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional Share at a price of $0.40 per Share until May 3, 2018.

The Company has paid eligible finders a cash commission in the amount of $8,700 being 6% of the aggregate proceeds from the sale of shares to purchasers introduced by the finders as well as issued an aggregate of 43,500 finders warrants (each a “Finders Warrant”), which is equal to 6% of the number of shares sold to purchasers introduced by the finders.  Each Finders Warrant entitles the finder to acquire a common share at an exercise price of $0.40 per share until May 3, 2018.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation expiring on September 4, 2017.

The net proceeds received from the Offering will be used for general working capital and administrative purposes and is anticipated to meet certain requirements of the TSX Venture Exchange in connection with the acquisition of ProSmart (see press release dated March 15, 2017).

The balance of the Offering is expected to close on or before May 15, 2017.

On behalf of Sora Capital Corp.
Paul Reinhart
CEO

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