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

Executive Summary

• MyndTec Inc. closed the ninth tranche of its non‑brokered private placement, issuing 553,926 Units at $0.20 per Unit for gross proceeds of $110,785.20.
• Each Unit consists of one common share and a half warrant (exercisable at $0.24 per share for 36 months).
• Net proceeds are earmarked for general corporate purposes, including working capital, machine‑learning model development, debt settlement, investor relations and marketing.

Key Details

• Units Issued: 553,926 Units (bringing total issued under the Offering to 4,719,205 Units).
• Price per Unit: $0.20.
• Aggregate Gross Proceeds (Ninth Tranche): $110,785.20.
• Total Gross Proceeds to Date: $943,869.80.
• Unit Composition: 1 common share + ½ warrant; each whole warrant allows purchase of one common share at $0.24 for 36 months post‑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 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 but is exempt from valuation and minority shareholder approval because fair market value ≤ $2,500,000 and securities are not listed on a specified market.
• Regulatory Note: Closing subject to final acceptance by the Canadian Securities Exchange.

Notable Quotes

• No executive quotes were included in the release.