Braille Energy Systems Inc. Announces Closing of Non-Brokered Private Placement and Loan Conversion

Executive Summary

• Braille Energy Systems Inc. closed a non‑brokered private placement of 6,000,000 units at $0.05 per unit, raising $300,000 in gross proceeds.
• The company paid a $10,200 cash finder's fee and issued 204,000 broker warrants to the finder at an exercise price of $0.10.
• CEO Lindsay Weatherdon converted his $150,000 loan into 3,000,000 units (at $0.05 per unit), adding equity and associated warrants; insiders subscribed for up to 2,000,000 units ($100,000).

Key Details

• Offering Structure: 6,000,000 Units @ $0.05 each → Gross proceeds: $300,000.
• Unit Composition: 1 common share + 1 non‑transferable common share purchase warrant per unit.
• Warrant Terms: Exercise price $0.08 per share; exercisable for 24 months from closing; accelerated if TSX‑V price ≥ CAD $0.20 for 10 consecutive days, with a 30‑day exercise window after notice.
• Hold Period: Units (including underlying securities) subject to a four‑month‑plus‑one‑day hold period from issuance.
• Finder’s Compensation: $10,200 cash fee + issuance of 204,000 broker warrants (each for one common share at $0.10 exercise price, 24‑month term, subject to warrant accelerator).
• Insider Subscription: Insiders subscribed for up to 2,000,000 Units → Proceeds from insiders: $100,000.
• Regulatory Exemptions: Offering relied on accredited investor exemption; exempt from MI 61‑101 valuation and minority shareholder approval thresholds (insider consideration < 25 % of market cap).
• CEO Loan Conversion: Lindsay Weatherdon converted a $150,000 loan into 3,0​00,000 Units @ $0.05 per unit (each with one common share + warrant); shares subject to hold period expiring 28 Feb 2026; transaction pending TSX‑V approval.
• Conditions: Closing subject to final TSX‑V approval; units sold in Ontario and British Columbia on a private placement basis.

Notable Quotes

(No direct quotes were provided in the release.)