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Partner Validates Cumul8 Platform by Investing in Eight Solutions
Vancouver, BC--February 21, 2017 - Eight Solutions Inc. (TSXV:ES) (“Eight Solutions” or the “Company”) announces a non-brokered private placement financing to an industry partner endorsing the Company’s Cumul8 platform. The partner has committed to paying Eight Solutions a total of $360,000 over a one-year period wherein the Company will issue common shares to the partner every three months for 50% thereof. The Company has issued 409,091 common shares of the Company at a price of $0.11 per common share for gross proceeds of $45,000 for the first tranche. Closing of the financing is subject to final exchange approval. All securities issuable pursuant to the financing are subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws. In addition, the Company agreed to pay a referral fee on net sales of Cumul8 products from business introductions made by the partner to the Company for a term of five years.
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