Myndtec closes $104,421 fifth tranche of placement

Executive Summary

• Myndtec Inc. closed the fifth tranche of its non‑brokered private placement, issuing 522,106 units at $0.20 per unit for gross proceeds of $104,421.20.
• The cumulative offering now totals 3,287,048 units and $657,409.60 in gross proceeds.
• Proceeds are earmarked for general corporate purposes, including working capital, machine‑learning model development, debt settlement, investor relations, and marketing.

Key Details

• Units Issued (Tranche 5): 522,106 units @ $0.20 per unit = $104,421.20 gross proceeds.
• Aggregate Offering to Date: 3,287,048 units issued; total gross proceeds $657,409.60.
• Unit Composition: Each unit = 1 common share + ½ common share purchase warrant (full warrant exercisable for one common share at $0.24 per share). Warrants valid for 36 months post‑closing.
• Use of Proceeds: General corporate purposes – working capital, corporate development, machine‑learning model development, settlement of outstanding debt obligations, investor relations, and marketing.
• Regulatory Hold Period (Canada): Units subject to a statutory four‑month hold period from tranche closing.
• U.S. Transfer Restrictions: Units not registered under the U.S. Securities Act; resale restricted unless registration or exemption obtained.
• Closing Condition: Final acceptance by the Canadian Securities Exchange required.
• Related‑Party Participation: Related parties subscribed to units, qualifying as a related‑party transaction under MI 61‑101; exempt from formal valuation and minority shareholder approval because fair market value < $2.5 million and securities are not listed on a specified market. No material change report filed due to timing of insider participation determination.

Notable Quotes

• No executive quotes were included in the release.