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Financings

Hempalta Announces Closing of First Tranche of Private Placement, Debt Settlements, Change of Auditor, Board of Directors Changes and Grant of Stock Options

By The Northwire Desk — AI Analysis Dec 23, 2025 · 17:01 HEMP · 0.015 Hempalta Corp.
HEMP · Price

Executive Summary

  • Hempalta closed the first tranche of its non‑brokered private placement, raising $100,000 in gross proceeds at $0.02 per unit.
  • The company settled $340,696.86 of outstanding debt by issuing 12,034,843 common shares to creditors and insiders (including 5 M shares to director Darren Bondar).
  • Additional corporate actions include issuance of 1,000,000 advisory warrants, appointment of two new directors with a grant of 6,000,000 stock options, and a change of auditor from Geib & Company to Davidson & Company LLP.

Key Details

  • Private Placement – First Tranche
  • Gross proceeds: $100,000
  • Unit price: $0.02 per unit (1 common share + ½ warrant)

  • Warrant terms: Exercise price $0.05, exercisable for 24 months; acceleration possible if share price ≥ $0.20 for five consecutive trading days.

  • Use of Proceeds

  • Working capital, advancement of nature‑based carbon initiatives, and balance‑sheet strengthening.

  • Debt Settlement Transactions

  • Total indebtedness settled: $340,696.86
  • Shares issued: 12,034,843 at a deemed price of $0.02 per share (full settlement).
  • Allocation of shares:
    • 9,169,731 to insiders – 5 M to director/officer Darren Bondar; 4,169,731 to Prairie Merchant Corporation.
    • 2,865,112 to the company’s legal counsel.
  • Transactions qualify as related‑party transactions exempt from MI 61‑101 valuation and minority approval thresholds (≤25 % of market cap).

  • Shares subject to statutory hold period of four months and one day and pending TSX Venture Exchange acceptance.

  • Consultant & Strategic Advisor Warrants

  • 1,000,000 common share purchase warrants issued as compensation.

  • Exercise price: $0.02 per share; term: 24 months; subject to statutory hold periods and exchange acceptance.

  • Auditor Change

  • New auditor: Davidson & Company LLP, effective December 19, 2025.

  • Change approved by the board; no disagreements or reservations noted in prior auditor’s reports.

  • Board of Directors Update & Stock Options Grant

  • Two new directors appointed (effective December 19, 2025).
  • Stock options granted: 6,000,000 total, with 5,000,000 issued to directors and officers.
  • Option exercise price: $0.02 per share; expiration: 5 years from grant date.

Notable Quotes

No direct quotes were included in the release.

Read the original news release →

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