Source: Martello Technologies.
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  • Martello (MTLO) will undertake a C$2.4 million non-brokered private placement
  • Wesley Clover International, owned by Martello Chairman Terence Matthews, is the sole subscriber in the offering
  • The company will use the proceeds for general corporate and operational purposes
  • Martello is a technology company that provides monitoring solutions to optimize the Microsoft modern workplace
  • Martello Technologies (MTLO) opened with a gain of 25 per cent, trading at $0.025 per share

Martello (MTLO) will undertake a C$2.4 million non-brokered private placement.

Wesley Clover International – a corporation controlled by Terence Matthews, Chairman of Martello – is the sole subscriber in the offering, making it a related-party transaction.

The offering will be completed in four equal tranches of $600,000 in March, April, May and June of 2023.

The company will issue shares at a price equal to the greater of $0.05 and the last closing price before the issuance of a news release announcing tranche pricing.

Martello will allocate the proceeds toward general corporate and operational purposes.

The private placement is scheduled to close by June 30, 2023.

Martello is a technology company that provides monitoring solutions to optimize the Microsoft modern workplace, including Microsoft 365 and Microsoft Teams.

Martello Technologies (MTLO) opened with a gain of 25 per cent, trading at $0.025 per share.


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