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

Executive Summary

• MyndTec Inc. closed the eighth tranche of its non‑brokered private placement, issuing 351,475 Units at $0.20 per Unit for gross proceeds of $70,295.
• The cumulative amount raised under the offering now totals $832,824.60 from 4,163,978 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 (Eighth Tranche): 351,475 Units @ $0.20 per Unit → Gross proceeds: $70,295.
• Composition of Each Unit: 1 Common Share + ½ Common Share purchase warrant (each whole Warrant exercisable for one Common Share at $0.24 per share, valid for 36 months from closing).
• Total Offering to Date: 4,163,978 Units issued → Aggregate gross proceeds: $832,824.60.
• 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): 4 months from the closing date for Units and underlying securities.
• U.S. Securities Law Restrictions: Units not registered under the U.S. Securities Act; transfer restricted to exempt or registered transactions.
• Related‑Party Participation: Related parties subscribed to the tranche; transaction qualifies as a “related party transaction” under MI 61‑101 but is exempt from valuation and minority‑shareholder approval requirements because fair market value ≤ $2,500,000. No material change report filed due to timing of related‑party determination.
• Closing Condition: Subject to final acceptance by the Canadian Securities Exchange.

Notable Quotes

(No direct quotes were provided in the release.)