Artrari One closes $89,848 private placement

Executive Summary

• Artrari One Capital Corp. has closed a previously announced non-brokered private placement, issuing 4,492,440 common shares at $0.02 per share for gross proceeds of $89,848.80.
• The company also announced a proposed debt settlement to convert $10,232 of outstanding indebtedness into common shares at $0.02 per share; however, this transaction has not yet closed.
• Net proceeds will primarily be used to pay outstanding invoices (including legal and audit fees) and for general working capital as the company pursues a qualifying transaction under TSX Venture Exchange rules.

Key Details

• Shares Issued: 4,492,440 common shares.
• Price Per Share: $0.02.
• Gross Proceeds: $89,848.80.
• Offering Type: Non-brokered private placement.
• Use of Proceeds: Approximately 90% to pay outstanding invoices (including legal and audit fees); remaining balance for general working capital.
• Regulatory Compliance: Completed in reliance on the TSX-V's minimum price exception (allowing issuance below $0.05). Confirmed that no more than 10% of proceeds are used for non-arm's-length parties, and none for investor relations.
• Hold Period: All securities are subject to a four-month-and-one-day statutory hold period.
• Listing Status: Subject to final acceptance by the TSX Venture Exchange.
• Debt Settlement: Proposed settlement of $10,232 in indebtedness via share issuance at $0.02/share; status is pending closure.
• Company Status: Capital Pool Company (CPC) listed on TSX-V under symbol AOCC.P; completed IPO on Jan. 4, 2024; no commercial operations or assets other than cash.

Notable Quotes

• No direct quotes from management were included in the provided text.