MyndTec Inc. Completes Sixth Tranche of Non-Brokered Private Placement

Executive Summary

• MyndTec Inc. closed the sixth tranche of its non‑brokered private placement, issuing 263,428 Units at $0.20 per Unit for gross proceeds of $52,668.75.
• The cumulative amount raised under the offering now totals $710,078.35 from 3,550,476 Units issued to date.
• Proceeds are earmarked for general corporate purposes, including working capital, machine‑learning model development, debt repayment, investor relations and marketing.

Key Details

• Units Issued (Sixth Tranche): 263,428 Units @ $0.20 per Unit → Gross proceeds: $52,668.75.
• Aggregate Offering Totals: 3,550,476 Units issued → Total gross proceeds to date: $710,078.35.
• Unit Composition: Each Unit = 1 common share + ½ warrant (full warrant exercisable for one common share at $0.24 per share).
• Warrant Terms: Exercise price $0.24; exercisable for 36 months after each tranche’s closing date.
• Use of 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): Units subject to a four‑month hold period from the closing date.
• U.S. Restrictions: Units not registered under U.S. securities laws; transfer restricted absent registration or an applicable exemption.
• Related Party Participation: Related parties subscribed for Units; transaction qualifies as a “related party transaction” exempt from MI 61‑101 valuation and minority approval thresholds (fair market value ≤ $2,500,000). No material change report filed because related‑party participation was not determined prior to closing.
• Closing Condition: Subject to final acceptance by the Canadian Securities Exchange.

Notable Quotes

(No executive quotes were included in the release.)