Overactive closes $2-million debt financing

Executive Summary

• Overactive Media Corp. has closed a previously announced upsized debt financing, securing aggregate gross proceeds of C$2 million.
• The capital raise consists of two secured promissory notes of C$1 million each, issued to entities controlled by Sheldon Pollack and the Kimel family.
• The company issued 660,000 common share purchase warrants as part of the transaction, with proceeds designated for general working capital purposes.

Key Details

• Gross Proceeds: C$2 million total.
• Instrument Structure: Two secured promissory notes, each with a principal amount of C$1 million.
• Lenders:
  • One note issued to an entity controlled by Sheldon Pollack.
  • One note issued to an entity controlled by the Kimel family.
• Warrant Terms:
  • Total warrants issued: 660,000 common share purchase warrants.
  • Allocation: 330,000 warrants to each lender.
  • Exercise Price: C$0.30 per share.
  • Term: One year from the date of issuance.
• Use of Proceeds: General working capital purposes.
• Restrictions: All securities are subject to a four-month statutory hold period under applicable securities laws and TSX Venture Exchange policies, expiring on February 22, 2026.