Harrys Manufacturing closes $219,000 private placement

Executive Summary

• Harrys Manufacturing Inc. has closed its non-brokered private placement, raising $219,000 in aggregate gross proceeds.
• The company issued 3.65 million units at $0.06 per unit, with proceeds designated for corporate development, investor relations, and general working capital.
• Each unit includes one common share and one transferable warrant, providing investors with additional equity upside at a fixed exercise price.

Key Details

• Gross Proceeds: $219,000
• Units Issued: 3.65 million units
• Price per Unit: $0.06
• Use of Proceeds: Corporate development, investor relations, and general working capital
• Unit Composition: 1 common share + 1 transferable common share purchase warrant
• Warrant Terms: Each warrant entitles the holder to purchase 1 additional share at an exercise price of $0.10 for 24 months from closing
• Finders' Fees: None paid
• Regulatory Conditions: Completion subject to all necessary corporate and regulatory approvals, including the Canadian Securities Exchange (CSE)
• Hold Period: Statutory hold of four months plus one day from issuance per applicable securities legislation
• Minimum Subscription: None required
• Offering Type: Non-brokered private placement

Notable Quotes

• "We are actively developing strategies to enhance shareholder value and seeking merger partners to unlock our potential," said Chief Executive Officer Nick Brusatore.