Prophecy Defi arranges $350,000 private placement

Executive Summary

• Prophecy Defi Inc. announced a non-brokered private placement to raise up to $350,000.
• The company intends to issue up to 7,000,000 units at a price of $0.05 per unit.
• Proceeds will be utilized for working capital and general administrative costs.

Key Details

• Transaction Structure: Non-brokered private placement financing.
• Units Offered: Up to 7,000,000 units.
• Price Per Unit: $0.05.
• Gross Proceeds: Up to $350,000.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant is exercisable into one additional common share at an exercise price of $0.10.
• Warrant Expiration: Five years from the closing date.
• Use of Proceeds: Working capital and other general and administrative costs.
• Hold Period: All securities issued are subject to a four-month hold period from the date of issue.
• Conditions: Closing is subject to receipt of all necessary corporate and regulatory approvals.
• Fees: A finder's fee may apply to a portion of the proceeds raised.