Sora Capital completes over-subscribed private placement for aggregate gross proceeds of $2,050,000

Vancouver, BCJune 7, 2017

Sora Capital Corp. (TSXV:SOR) (“Sora” or the “Company”) announces that the Company has closed the second and final tranche of its previously announced (see press releases dated March 31, 2017, May 6, 2017 and May 29, 2017) non-brokered private placement (the “Offering”). Due to demand, the Offering was increased from a maximum of $2,000,000 to a maximum of $2,050,000.

The second tranche closing consisted of 7,250,000 units (the “Units”) at a price of $0.20 per Unit for gross proceeds of $1,450,000, and together with the closing of the previous tranche (see press release of May 6, 2017) an aggregate of 10,250,000 Units have been issued for total aggregate proceeds of $2,050,000. CORRECTION, SHOULD HAVE READ: Each Unit consists of one common share (the “Shares”) and one-half of one warrant (each whole warrant, a “Warrant”) with an exercise price of $0.40 for one year.  (Formerly read: Each Unit consists of one common share (a “Share”) and one common share purchase warrant (a “Warrant”).  Each Warrant is exercisable to acquire an additional Share at a price of $0.40 per Share until June 6, 2018.)

The Company has paid an eligible finder a cash commission in the amount of $42,000, being 6% of the aggregate proceeds from the sale of Units to purchasers introduced by the finder as well as issued an aggregate of 210,000 finders warrants (each a “Finders Warrant”), which is equal to 6% of the number of Units sold to purchasers introduced by the finder in the second tranche.  Each Finders Warrant entitles the finder to acquire a Share at an exercise price of $0.40 per Share until June 6, 2018.

All securities issued in connection with the second tranche closing are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation expiring on October 7, 2017.  The net proceeds received from the Offering will be used for general working capital and corporate purposes.

Subject to final approval from the TSX Venture Exchange, the Company also expects to close its transaction with ProSmart Sports Development Inc. (“ProSmart”) and the shareholders of ProSmart (see press releases dated February 8, 2017 and March 15, 2017), on or before June 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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