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AMPD Ventures Inc. has announced an increase in its private placement from 11,666,667 units to 16,666,667 units, raising the total proceeds from CAD $3,500,000 to CAD $5,000,000. Each unit is priced at CAD $0.30 and includes a warrant for one share at CAD $0.50 valid for 24 months. The use of proceeds includes $2.5M for ongoing operations post-acquisition of Departure Lounge and an increased general working capital allocation of $2.5M. The private placement is subject to regulatory approval and involves possible finder's fees of up to 7%.
AMPD Ventures Inc. plans to conduct a private placement to issue up to 11,666,667 units at CAD $0.30 each, targeting proceeds of CAD $3.5 million. Each unit includes one share and a warrant for a CAD $0.50 share for 24 months. The company has also signed a non-binding LOI to acquire Departure Lounge Inc. for CAD $1,079,458 plus earnouts, using CAD $2.5 million from the placement for operations post-acquisition. This acquisition is part of AMPD's strategy to enhance its Metaverse technology initiatives.
AMPD Ventures Inc. has successfully partnered with Bardel Entertainment to deliver advanced NVMe-based storage solutions. This collaboration aims to meet Bardel's high-performance requirements for 3D rendering, enabling millions of IOPS and high throughput capabilities. AMPD's tiered storage system includes Tier 1 ultra-high speed NVMe, cost-effective Tier 2 SSDs, and Tier 3 spinning disk storage. The AMPD Storage will be integrated into the AMPD Virtual Studio Suite, enhancing the capabilities for digital media production.
AMPD Ventures Inc. announced its audited financial results for the fiscal year ended May 31, 2021. The company reported a revenue increase of $0.4 million, totaling $1.54 million. Monthly-recurring revenue nearly doubled to $1.1 million. Gross profit also doubled to $1.0 million. AMPD raised $2.6 million during the year and closed with $1.6 million in cash. Notable operational developments include strategic partnerships with major technology firms and the acquisition of Cloud-A Computing Inc., expected to enhance market presence and accelerate technology development.
AMPD Ventures Inc. (CSE:AMPD)(OTCQB:AMPDF) announced the granting of 500,000 incentive stock options to employees, officers, and directors. The options have an exercise price of CAD $0.34 per share. Of these, 200,000 options will vest over a 36-month period, while 300,000 options are fully vested for a period of two years. The options are exercisable for five years and two years, respectively, unless terminated under the stock option plan.
AMPD Ventures Inc. has announced a partnership with IO Industries Inc., becoming an official global reseller of IOI's high-performance digital camera and video solutions. This collaboration aims to integrate IOI's advanced camera technology with AMPD's computing and cloud solutions to meet the growing demand for high-quality video capture in the context of the Metaverse and 3D content creation. The global volumetric video market is projected to grow significantly, reaching USD 6.7B by 2026.
AMPD Ventures Inc. has established a European subsidiary, AMPD Technologies (Europe) Limited, located in Dublin, Ireland, and has partnered with Equinix, Inc. for a data center presence in Amsterdam. The company specializes in high-performance computing and cloud solutions, anticipating the launch of its AMPD Virtual Studio globally. With increasing interest in its services, AMPD plans to roll out its AMPD Pods by the end of the year in several locations. The global cloud computing market is projected to reach $830B by 2025, with a significant growth rate in spatial computing sectors.
AMPD Ventures Inc. has begun trading on the OTCQB Venture Market under the symbol AMPDF as of July 1, 2021, while continuing to trade on the CSE and Frankfurt Stock Exchange. This move aims to enhance visibility among investors and improve liquidity. The company focuses on high-performance computing and cloud solutions for applications in digital content creation, big data, and artificial intelligence. CEO Anthony Brown expressed optimism about attracting a broader investment community through this milestone.