Helix Announces Closing of $3 Million Non-Brokered Private Placement

/NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES.  FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TSX-V Symbol: HELX

VANCOUVER, BC, April 5, 2021 /CNW/ - Helix Applications Inc. (TSXV: HELX) (the "Company" or "Helix") is pleased to announce that it has completed its previously announced non-brokered private placement for aggregate gross proceeds of CAD$3,000,000 (the "Private Placement"). In connection with the Private Placement, 2,000,000 common shares of the Company ("Shares") were issued at a price of CAD$1.50 per Share.

The securities issued in connection with the Private Placement are subject to a four-month hold period, in accordance with applicable securities laws.

The Company intends to use the proceeds from the Private Placement to continue the development of its blockchain focused business, as well as for general and administrative expenses.

In connection with the Private Placement, the Company has agreed to pay Smaller Company Capital Ltd. ("SCC") a cash finder's fee equal to 7% of the gross proceeds raised in respect of the aggregate sales to subscribers under the Private Placement that were introduced by SCC ($210,000). In addition the Company issued to SCC a finder's option to acquire up to 7% of the number of Shares issuable under the Private Placement, related to the gross proceeds raised in aggregate sales under the Private Placement that were introduced by SCC (a finder's option to acquire up to 140,000 Shares). This finder's option expires 24 months from the date of issuance and has an exercise price of CAD$1.50 per Share.

ABOUT HELIX

Helix is a blockchain application and technologies developer, listed on the TSX Venture Exchange (TSX Venture: HELX).

Additional information about the Company is available on SEDAR at www.sedar.com under the Company's profile.

This press release is not an offer of the Company's securities for sale in the United States. The Company's securities may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and applicable U.S. state securities laws. The Company will not make any public offering of its securities in the United States.  The Company's securities have not been and will not be registered under the U.S. Securities 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 these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information set out in this news release constitutes forward-looking statements or information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the anticipated use of proceeds of the Private Placement, and other information concerning future events or the intentions, plans and future action of the Company that may be described herein, and other information concerning the intentions, plans and future action of the Company and its technologies and products described herein. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's most recent management's discussion and analysis, a copy of which is filed on SEDAR at www.SEDAR.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

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

SOURCE Helix Applications Inc.

Rufus Round, CEO, c/o 82 Richmond Street East, Suite 200, Toronto, ON, M5C 1P1, Tel. [phone], [email protected]