Nobul closes Series A financing

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By Ted Liu

Nobul Corporation has closed its previously announced Series A financing, raising $835,105 through the issuance of 10,408,816 Class A preferred shares at $.08 per share. 16 Ontario, 2 Alberta, 2 Manitoba and 1 Qatar investors participated in the financing which closed on May 3, 2018.

On January 8, 2018, Nobul announced its intention to complete a non-brokered private placement to accredited investors of up to 37,500,000 Class A preferred shares at $0.08 per share for gross proceeds of up to $3 million. The Preferred Shares will automatically convert into common shares on the company’s next round of financing. The company has targeted to close the offering by the end of January.

Toronto based Nobul has created a revolutionary online marketplace for real estate agents to compete against each other to represent buyers and sellers, which will result in lower transaction costs, increased transparency and a vastly improved customer experience.

Nobul is led by founder and CEO Regan McGee, CFO Donald Page, CTO Chris Mero, and SVP of Real Estate John Poole.

photo credit: Nobul