Rivalry closes $1.38-million first tranche of financing

Executive Summary

• Rivalry Corp. closed the first tranche of its non‑brokered private placement, issuing 27.6 million units at $0.05 per unit for gross proceeds of approximately $1.38 million.
• Each unit includes one subordinate voting share and one warrant to purchase an additional share at $0.10, exercisable for 24 months; all securities are subject to a four‑month statutory hold period.
• Proceeds will be used for corporate development and general working capital, with the company planning up to an additional 82.8 million units and a debt restructuring by Oct. 24 2025.

Key Details

• Units Issued: 27.6 million units at $0.05 per unit.
• Gross Proceeds: Approximately $1.38 million.
• Unit Composition: One subordinate voting share + one warrant to purchase one subordinate voting share.
• Warrant Terms: Exercise price $0.10 per share; exercisable for 24 months from issuance.
• Statutory Hold Period: Four months on shares, warrants, and warrant‑shares.
• Use of Proceeds: Corporate development initiatives and general working capital.
• Future Closings: Up to an additional 82.8 million units may be issued under the existing subscription agreement with a strategic family office.
• Debt Restructuring: Company intends to complete its previously announced debt settlement with senior lender on or before Oct. 24 2025.

Notable Quotes

(No direct quotes were provided in the release.)