MyndTec Inc. Completes Fifth Tranche of Non-Brokered Private 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 amount raised under the offering now totals $657,409.60 from 3,287,048 Units issued to date.
• Proceeds are earmarked for general corporate purposes, including working capital, corporate development, machine‑learning model development, debt repayment, investor relations and marketing.

Key Details

• Units Issued (Fifth Tranche): 522,106 Units at $0.20 per Unit.
• Aggregate Gross Proceeds (Fifth Tranche): $104,421.20.
• Total Units Issued to Date: 3,287,048 Units.
• Total Aggregate Gross Proceeds to Date: $657,409.60.
• Unit Composition: Each Unit consists of one common share and one half (½) Common Share purchase warrant; two halves combine into one whole warrant exercisable at $0.24 per share for 36 months after closing.
• Use of Net Proceeds: General corporate purposes – working capital, corporate development, machine‑learning model development, settlement of outstanding debt obligations, investor relations and marketing.
• Statutory Hold Period (Canada): Four (4) months from the closing date for Units and underlying securities.
• U.S. Securities Restrictions: Units not registered under U.S. securities laws; transfer restricted to exempt or registered transactions.
• Related Party Participation: Related parties subscribed to Units, qualifying as a “related party transaction” under MI 61‑101; exemption applied because fair market value of the related‑party issuance is below $2.5 M and securities are not listed on a specified market.
• Regulatory Acceptance: Closing remains subject to final acceptance by the Canadian Securities Exchange.

Notable Quotes

(No executive quotes were provided in the release.)