Metasphere Labs Announces a Non-Brokered Private Placement

Executive Summary

• Metasphere Labs Inc. closed a non‑brokered private placement of 12,000,000 units at $0.05 per unit, generating $600,000 in gross proceeds.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.06 for four years.
• Net proceeds are earmarked for general working capital and other corporate purposes.

Key Details

• Units Issued: 12,000,000 units (each = 1 common share + 1 transferable warrant).
• Issue Price: $0.05 per unit.
• Aggregate Gross Proceeds: $600,000.
• Warrant Terms: Right to acquire one additional common share at $0.06 per share; exercisable for four (4) years from the closing date.
• Use of Proceeds: General working capital and allocation toward general corporate purposes.
• Statutory Hold Period: Securities subject to a hold period of four months plus one day under Canadian securities law.
• Exemption Details: Offering relied on CSE Policy 4 exemption (Section 4.6(2)(b)) due to financial hardship, independent director approval, and lack of related‑person participation.
• No Finder Fees: The company confirmed that no finder fees were paid in connection with the offering.

Notable Quotes

(None included in the release)