Interlapse Announces Non-Brokered Private Placement

VANCOUVER, BC, Sept. 23, 2020 /CNW/ - Interlapse Technologies Corp. (TSXV: INLA) (OTCQB: INLAF) announces that the Company intends on completing a non-brokered private placement offering of 3,500,000 units of the Company (the "Units") at C$0.15 per Unit, for gross proceeds of C$525,000.

Each Unit comprises one common share of the Company and one share purchase warrant. Each warrant entitles the holder to subscribe for one additional share at a price of C$0.20 per share for a period of 18 months from the date of issuance. In the event that the closing trading price of the shares on the TSX Venture Exchange is C$0.40 or greater for a period of 10 consecutive trading days, the Company may, at its option, accelerate the warrant expiry date by issuing a press release.

Interlapse plans to use the funds towards further development of the Company's virtual currency and digital asset business.

About Interlapse Technologies Corp.

Interlapse Technologies Corp. is a financial technology applications company accelerating the global mega-trend of virtual currency adoption. Our signature product, Coincurve.com, enables a simple, safe way to buy, sell and spend virtual currency.

To learn more, visit www.interlapse.com.

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

Forward-Looking Information
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Interlapse. In making the forward-looking statements, Interlapse has applied certain assumptions that are based on information available, including Interlapse's strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Interlapse does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE Interlapse Technologies Corp.

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