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Financings Routine −

Next Phase Ventures Ltd. Announces Proposed Debt Conversion, Financing, Corporate Update, and Filing of Q2 2026 Financial Results

Next Phase Ventures Raises Survival Capital Amid Reporting Shift; Dilution Concerns Mount

By The Northwire Desk — AI Analysis May 29, 2026 · 14:41 NPV · 0.01 Next Phase Ventures Ltd.
NPV · Price

Executive Summary

  • Next Phase Ventures Ltd. announces a strategic repositioning involving the settlement of approximately $400,000 in secured indebtedness to its President & CEO via share issuance and a non-brokered private placement financing for up to $500,000.
  • The Company has officially changed its name from Hempalta Corp. to Next Phase Ventures Ltd., with trading commencing under the new symbol "NPV" on the TSX Venture Exchange.
  • In compliance with Coordinated Blanket Order 51-933, the Company adopts semi-annual financial reporting beginning June 30, 2026, while filing interim financial statements for the period ended March 31, 2026.

Key Details

  • Debt Conversion: Settlement of approximately $400,000 in outstanding secured indebtedness owing to the Company's President & CEO via issuance of common shares at a deemed price of $0.02 per share (subject to TSX Venture Exchange approval).
  • Private Placement Financing: Non-brokered financing for gross proceeds of up to $500,000 through issuance of units at $0.02 per unit (subject to TSX Venture Exchange approval).
  • Lead Order: Proposed lead order of up to $100,000 from the Company's President & CEO included in the private placement.
  • Corporate Name Change: Effective trading under new name "Next Phase Ventures Ltd." and symbol "NPV" following transition from Hempalta Corp.
  • Reporting Frequency: Adoption of semi-annual financial reporting beginning with interim period ending June 30, 2026, pursuant to Coordinated Blanket Order 51-933.
  • Financial Filing: Interim financial statements and MD&A filed for the three-month period ended March 31, 2026 on SEDAR+.

Notable Quotes

"Over the past several months, we have worked to reposition the Company, preserve our public platform, and establish a stronger foundation for the next stage of development. The proposed debt conversion and financing reflect my continued confidence in the long-term potential of the Company and further align management with shareholders as we move forward." — Darren Bondar, President & CEO

Read the original news release →