BEACN Welcomes New Director Charles Huang and Closes Final Tranche of Non-Brokered Private Placement

Executive Summary

• BEACN Wizardry & Magic Inc. announced the appointment of Charles Huang, co‑founder of RedOctane (Guitar Hero), to its Board of Directors.
• The company closed the final tranche of a non‑brokered private placement, issuing 3,043,478 common shares at C$0.115 per share for gross proceeds of C$350,000, bringing total issuance to 6,086,956 shares and total gross proceeds to C$700,000.
• Proceeds will be used to accelerate B2B/B2C sales, fund inventory purchases, continue R&D on new products, and support general working capital.

Key Details

• Board Appointment: Charles Huang joins the BEACN Board of Directors; brings experience in product strategy, brand building, and consumer electronics/gaming.
• Final Tranche Financing:
• Shares issued: 3,043,478 common shares (final tranche)
• Price per share: C$0.115
• Gross proceeds from final tranche: C$350,000
• Total shares issued in the offering: 6,086,956 common shares
• Total gross proceeds for the entire offering: C$700,000
• Use of Proceeds:
  1. Accelerate B2B and B2C sales initiatives
  2. Support strategic inventory purchases of current and new products
  3. Continue research & development of new products
  4. General working capital purposes
• Closing Conditions: Subject to receipt of all necessary approvals, including final approval by the TSX Venture Exchange; no finders’ fees were paid.
• Hold Period: Securities subject to a hold period expiring four months and one day from the closing date under Canadian securities laws.

Notable Quotes

“BEACN takes a unique approach to sound technology… I am delighted to work with them.” – Charles Huang, Board Member

“Having his leadership and operational experience in consumer electronics and gaming is a bullseye for guiding BEACN’s future.” – Kevin Alexander, CEO

Materiality Assessment: Non‑Material – Positive (financing of modest size; board appointment adds strategic value but does not materially alter the company’s financial position).