ShelfieTech announces $2 million private placement offering

ShelfieTech Ltd. (CSE: SHLF) (OTCQB: SHLFF) announced a non-brokered private placement offering of up to 2 million common shares at $1.00 per share for gross proceeds of up to $2 million.

The Vancouver-based company will pay finders' fees of up to 8% of gross proceeds raised from subscribers introduced by eligible finders, according to Canadian Securities Exchange policies.

ShelfieTech plans to use proceeds for corporate purposes, research and development, acquisitions and working capital.

The offering requires corporate and regulatory approvals, including CSE approval, but is not subject to a minimum subscription amount. Securities issued will have a statutory hold period of four months plus one day from the issuance date.

ShelfieTech develops shelf inventory management technology for retail stores, particularly grocery stores and supermarkets. The company's system uses robotic monitoring with proprietary software that employs machine learning and image processing algorithms for inventory optimization.

The securities have not been registered under U.S. securities laws and may not be offered or sold in the United States without registration or applicable exemption.

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