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

Executive Summary

• MyndTec Inc. closed the seventh tranche of its non‑brokered private placement, issuing 262,027 Units at $0.20 per Unit for gross proceeds of $52,451.25.
• The cumulative offering now totals 3,812,503 Units and $762,529.60 in gross proceeds.
• Net proceeds are earmarked for general corporate purposes, including working capital, machine‑learning model development, debt repayment, investor relations, and marketing.

Key Details

• Units Issued (Seventh Tranche): 262,027 Units @ $0.20 per Unit → $52,451.25 gross proceeds.
• Total Offering to Date: 3,812,503 Units issued → $762,529.60 gross proceeds.
• Unit Composition: Each Unit = 1 common share + ½ warrant (full warrant exercisable for one common share at $0.24 per share). Warrants are exercisable for 36 months post‑closing.
• 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): 4 months from closing date.
• U.S. Securities Restrictions: Units not registered under the U.S. Securities Act; transfer restricted to exempt or registered transactions.
• Related‑Party Participation: Related parties subscribed for Units; transaction qualifies as a “related party transaction” under MI 61‑101 and is exempt from valuation/minority‑shareholder approval because fair market value ≤ $2,500,000. No material change report filed due to timing of determination.
• Closing Conditions: Subject to final acceptance by the Canadian Securities Exchange.

Notable Quotes

(No executive quotes were provided in the release.)