Universal Digital Announces Closing of Second and Final Tranche of Private Placement for Total Proceeds of $1.76 Million

Executive Summary

• Universal Digital Inc. closed the second and final tranche of its private placement, issuing 500,000 units at $0.60 per unit for gross proceeds of $300,000.
• Combined with the first tranche, total gross proceeds from the offering now equal $1,758,780.
• Net proceeds are earmarked for working capital and general corporate purposes.

Key Details

• Units Issued (Final Tranche): 500,000 units at $0.60 per unit → $300,000 gross proceeds.
• Total Offering Proceeds: $1,758,780 (first tranche + final tranche).
• Unit Composition: Each unit = 1 common share + ½ of a common‑share purchase warrant.
• Warrant Terms: One whole warrant per unit; each warrant allows purchase of one common share at an exercise price of $0.80 per share, exercisable until September 18, 2027.
• Use of Proceeds: Working capital and general corporate purposes.
• Exemption Used: Listed issuer financing exemption under Part 5A of NI 45‑106 (Coordinated Blanket Order 45‑953). No statutory holder period applies.

Notable Quotes

(No direct quotes were provided in the release.)