Mapath closes $605,000 private placement

Executive Summary

• Mapath Capital Corp. has closed a non-brokered private placement of 12.1 million common shares at $0.05 per share, raising $605,000 in gross proceeds.
• The company also closed a shares-for-debt transaction, issuing 768,000 common shares to settle $38,400 in non-cash payables related to convertible debentures and accrued interest.
• Proceeds from the private placement are designated for working capital and debt repayment, with no finders' fees incurred.

Key Details

• Private Placement Structure: Non-brokered offering of 12.1 million common shares.
• Price: $0.05 per share.
• Gross Proceeds: $605,000.
• Use of Proceeds: Working capital and repayment of debt.
• Finders' Fees: None.
• Shares-for-Debt Transaction:
  • Issued 768,000 common shares at $0.05 per share.
  • Settled $38,400 in non-cash payables.
  • Debt components included two convertible debentures with principal amounts of $20,000 and $12,000, plus accrued interest of $4,000 and $2,400, respectively.
• Insider Participation: Two insiders purchased an aggregate of 800,000 shares in the private placement and received 768,000 shares via the shares-for-debt transaction.
• Regulatory Exemptions: Relied on exemptions from valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 (sections 5.5(b) and 5.7(1)(a)).
• Restrictions: All securities are subject to a regulatory hold period ending on March 15, 2026, per TSX Venture Exchange rules and Canadian securities laws.