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TMCNet:  Martello Technologies Announces Overnight Marketed Public Offering of Common Shares

[September 12, 2019]

Martello Technologies Announces Overnight Marketed Public Offering of Common Shares


OTTAWA, Sept. 12, 2019 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO) a leading provider of technology solutions that deliver clarity and control of complex IT environments, today announced that it has filed a preliminary short form prospectus (the "Preliminary Prospectus") in connection with an overnight marketed public offering (the "Offering") of common shares (the "Common Shares"). The size of the Offering will be determined in the context of the market at the time of entering into a definitive underwriting agreement between the Company and the Underwriters.

The Offering is being conducted by a syndicate of underwriters (the "Underwriters"), led by Canaccord Genuity Corp. The Preliminary Prospectus was filed in each of Ontario, British Columbia and Alberta.

The Offering will be made pursuant to the terms of an underwriting agreement (the "Underwriting Agreement") to be entered into between the Company and the Underwriters. The Underwriting Agreement will provide that the Company will grant the Underwriters an option (the "Over-Allotment Option") to purchase up to a number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable in whole or in part at any time up to 30 days after and including the closing date of the Offering.

The Company intends to se the net proceeds of the Offering to identify and fund acquisitions, accelerate R&D activities, increase sales capacity and for general corporate purposes.

The Offering is scheduled to close on or about September 27, 2019, or such other date as may be agreed to between the Company and the Underwriters (the "Closing Date") and is subject to certain conditions, including, but not limited to, the entering into of the Underwriting Agreement and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the "TSXV") and the applicable securities regulatory authorities.

This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the "1933 Act") as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Martello Technologies Group Inc.

Martello Technologies Group Inc. (TSXV: MTLO) is a technology company that provides clarity and control of complex IT infrastructures. The company develops products and solutions that monitor, manage and optimize the performance of real-time applications on networks, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello's products include SD-WAN technology, network performance management software, and IT analytics software. Martello Technologies Group is a public company headquartered in Ottawa, Canada with offices in Montreal, Amsterdam, Paris, Dallas and New York. Learn more at

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

SOURCE Martello Technologies Group Inc.

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