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Private Placement: EYEfi Group Technologies (CSE:EGTI)

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The company is looking to raise gross proceeds of up to $2.2 million from the placement of up to 4.4 million units, priced at $0.50 per unit. The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.75 for 12 months, subject to an acceleration clause.

Additional Information:

Company: EYEfi Group Technologies
Website: http://www.EYEfigroup.com
Stock Symbol: CSE: EGTI
Date Published: Feb 23, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

EYEfi Group Technologies, a software and electronics engineering company, has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2.2 million from the placement of up to 4.4 million units, priced at $0.50 per unit.

The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.75 for 12 months, subject to an acceleration clause.

The shares, which began trading on December 4, 2020, are currently trading at $0.55.

The proceeds will be used to assist with the company's growth plans, including employing new sales and support staff to service the increasing demand for the company's product suite from resellers such as Fujitsu and Telstra, along with accelerating product development.

The company also intends to pay down its loan to strengthen its balance sheet and to provide general working capital.

EYEfi has developed, patented and commercialized an innovative spatial targeting technology (SPARC) and an associated product suite that turns sensors, camera and smartphones, whether fixed, mobile, airborne or portable, into geo-target co-ordinate acquisition devices, connecting people and devices, in real-time and in ways not previously possible.

SPARC is an acronym stands for spatial, predictive, approximation and radial convolution.

EYEfi has also developed Industrial Internet of Things sensor hardware and associated cloud software, as a second pillar within its product offering.

EYEfi Sensors connect and deliver data to EYEfi Cloud, is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications, using a simple to use dashboard style user interface.

For more information about EYEfi’s products, please visit the company’s website www.EYEfigroup.com, contact Tanya Carter, Marketing and Corporate Communications, at +613-9417-5777 (9am to 5pm AEST) or by email at info@EYEfigroup.com.

I’m Megan Edwards for Investmentpitch Media