DR. PHONE FIX ANNOUNCES FIRST TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

Executive Summary

• Dr. Phone Fix Canada Corporation has closed the first tranche of its non-brokered convertible debenture unit financing, raising aggregate gross proceeds of $882,000.
• The company issued 882 units, each comprising a $1,000 unsecured convertible debenture and 3,125 common share purchase warrants.
• A finder's fee was paid consisting of $59,990 in cash and 374,937 common share purchase warrants exercisable at $0.22 per share.

Key Details

• Transaction Structure: Non-brokered private placement of convertible debenture units.
• Units Issued: 882 units at a price of $1,000 per unit.
• Gross Proceeds: $882,000.
• Unit Composition: Each unit includes one $1,000 principal amount unsecured convertible debenture and 3,125 common share purchase warrants.
• Finder's Compensation: Aggregate cash fee of $59,990 plus 374,937 common share purchase warrants (Finder's Warrants) issued to qualified arm's length parties.
• Finder's Warrant Terms: Exercisable to acquire one common share at an exercise price of $0.22, exercisable for 24 months from the date of issuance.
• Hold Period: All securities issued pursuant to the offering, including shares issuable upon conversion or warrant exercise, are subject to a statutory hold period of four months and one day from closing.
• Regulatory Status: Offering remains subject to final acceptance by the TSX Venture Exchange (TSXV).
• Use of Proceeds: Not explicitly disclosed in this release.