Vancouver, British Columbia, Canada, February 8, 2017 – Fundamental Applications Corp. (“Fundamental”) (CSE:FUN), a leading developer of innovative smartphone applications targeted toward millennials, announces that it intends to raise $175,000 through a non-brokered private placement.
Through this offering, the Company intends to issue 3,500,000 shares at a price of $0.05 per share for gross proceeds of $175,000. Proceeds from the private placement will be used for general working capital and corporate development purposes.
“Fundamental is investigating significant opportunities between our growing Foro app user base and an explosive deregulation in the marijuana market,” states CEO Brad Moore. “There is a clear synergy between providing our users access to safe and legal cannabis products and services through Foro-based technologies.”
All securities issued in connection with the private placement will be subject to a hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Fundamental Applications Corp. (CSE:FUN FSE:2FA, OTCQB: FUAPF) designs, develops, markets, and acquires innovative mobile applications targeted at the “Millennials” generation, people born in an age of digital technology, internet access, and smart phones. This demographic is an early adopter of mobile technology, has significant discretionary income, and is lifestyle driven with a willingness to try new things. Fundamental’s three leading mobile platforms are Foro, a peer-to-peer mobile ecommerce marketplace; Truth, a one-to-one anonymous messaging app previously listed in the top 100 social networking apps in the Apple App Store; and Opinit, an app that enables users to socially share their favourite online sentiment driven content.
For more information about Fundamental, please visit www.FunAppCorp.com, or review the Company’s profiles on the SEDAR website (www.sedar.com) and the CSE website (www.thecse.com). To schedule an interview, please contact:
Chief Executive Officer
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events.