Futr closes $4.3-million first tranche of financing

Executive Summary

• The Futr Corp. has closed the first tranche of its previously announced $6 million non-brokered private placement, raising $4.3 million.
• The final tranche of $1.7 million is scheduled to close on September 23, 2025, bringing the total issuance to 20 million units at $0.30 per unit.
• Net proceeds will be utilized for general working capital, growth initiatives, and potential acquisitions, with a specific focus on advancing the company's personal data monetization platform.

Key Details

• Total Financing Size: $6 million aggregate proceeds from 20 million units.
• First Tranche Closed: $4.3 million raised from 14,481,963 units issued.
• Final Tranche: $1.7 million to be closed on Friday, Sept. 23, 2025.
• Unit Price: $0.30 per unit.
• Unit Composition: Each unit consists of one common share and one-half warrant.
• Warrant Terms:
  • Each warrant is exercisable to acquire one common share.
  • Exercise Price: $0.45 per share.
  • Expiration: December 31, 2027.
  • Acceleration Clause: The board may accelerate expiration to 30 days following a press release if the stock trades at $2.20 per share on a VWAP basis over a 10-day period.
• Finder’s Fees:
  • Cash fee: 7% of units placed, totaling $290,261.
  • Finder Warrants: 967,538 warrants issued, equal to 7% of certain eligible units sold.
  • Finder Warrant Terms: Exercisable to acquire one unit until Sept. 30, 2027, at an exercise price of $0.30 per unit.
• Insider Participation:
  • Insiders (Michael Hilmer, Alex McDougall, Jay Graver, and G. Scott Paterson) participated in the financing.
  • Total Insider Investment: $270,000.
  • Units Acquired by Insiders: 900,000 units.
  • Regulatory Status: Classified as a related party transaction under Multilateral Instrument 61-101; exemptions from formal valuation and minority shareholder approval were relied upon as insider participation does not exceed 25% of market capitalization.
• Use of Proceeds: General working capital and growth initiatives, including potential acquisitions.
• Regulatory Conditions: Subject to TSX Venture Exchange acceptance of regulatory filings.
• Hold Period: All securities issued are subject to a four-month hold period until January 10, 2026.

Notable Quotes

• "We are pleased to announce the first closing of our fully subscribed for financing, which sets the company up for a very active year ahead. We will focus on advancing our personal data monetization platform. We are delighted by the continued support of Futr's vision by both our existing long-term and now new strategic shareholders of the company." — Alex McDougall, President