Shelfie-Tech raises US$1.25M to fund Aspect acquisition
What's the deal? Shelfie-TechDealroom has a profile for this one. Try Dealroom → has closed a US$1.25M private placement to fund its acquisition of Aspect Information Systems. The Canadian company, listed on the CSE and OTCQB, builds robotic shelf-monitoring systems for grocery stores and supermarkets.
The terms: Shelfie-Tech issued 961,642 common shares at US$1.31 each. It will also pay roughly US$28.1K in finders' fees and issue 21,539 shares to eligible finders, with all securities subject to a four-month-and-one-day hold period.
What's the endgame? Shelfie-Tech uses patent-pending technology, machine learning, and image processing to automate shelf inventory management for large retailers. Proceeds will fund the Aspect deal plus general working capital and corporate purposes.
The signal: The financing lands as retailers push for automated tools that cut costs and improve efficiency. Closing the placement gives Shelfie-Tech the capital to complete the acquisition and integrate Aspect into its platform.
Read more: citybuzz.co
Image credit: Simon Shek
