Northwire Canada EditionTuesday, August 11, 2026
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Financings

Northfield Announces Upsized Brokered Financing of up to $15 Million

By The Northwire Desk — AI Analysis Dec 01, 2025 · 15:40 NFD · 6.4 None
NFD · Price

Executive Summary

  • Northfield Capital Corporation upsized its previously announced brokered financing to a total of up to C$15 million at $5.50 per Unit, each Unit comprising one Class A restricted voting share and one warrant (exercise price $7.50, three‑year term).
  • The company also proposes a non‑brokered private placement of up to 1,192 additional Class B multiple‑voting shares to President/CEO Robert Cudney at $6.40 per share, bringing the total potential Class B issuance to 3,580 shares (gross proceeds up to C$7,629).
  • Net proceeds from both the unit offering and the Class B share issue will be used for working capital and general corporate purposes; closing is expected around December 9, 2025, subject to TSX Venture Exchange approval.

Key Details

  • Upsized Unit Offering
  • Aggregate gross proceeds: up to C$15,000,000.
  • Issue price: $5.50 per Unit.
  • Composition of each Unit: 1 Class A restricted voting share + 1 warrant.
  • Warrant terms: right to purchase one additional share at $7.50 per share, exercisable for 3 years.
  • Lead agent/sole bookrunner: Integrity Capital Group Inc. (syndicate of agents).

  • Closing expected: on or about December 9, 2025, subject to Exchange approval.

  • Class B Share Private Placement

  • Additional shares offered: up to 1,192 Class B shares at $6.40 per share (gross proceeds up to C$7,629).
  • Total potential issuance to CEO Robert Cudney: 3,580 Class B shares (including prior announced 2,388 shares).
  • Purpose: maintain Mr. Cudney’s pro‑rata voting interest (~39.6% of total voting power) post‑offering.
  • Hold period: statutory four months plus one day from closing date.

  • Use of proceeds: working capital and general corporate purposes.

  • Regulatory & Transactional Notes

  • Offering made under NI 45‑106 Part 5A (Listed Issuer Financing Exemption).
  • No hold period for Units in Canada; Class B shares subject to statutory hold.
  • Related‑party transaction: insiders’ participation exempt from formal valuation/minority approval as fair market value < 25% of market cap per MI 61‑101 and TSXV Policy 5.9.
  • Legal advisors: Cassels Brock & Blackwell LLP (company) and Bennett Jones LLP (agents).

Notable Quotes

  • No direct executive quotes were included in the release.
Read the original news release →

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