Riwi arranges $1.5-million private placement

Executive Summary

• Riwi Corp. has announced a non-brokered private placement to raise up to $1.5 million in gross proceeds.
• The company will issue up to 5 million units at a price of $0.30 per unit.
• Proceeds are intended for general working capital, corporate purposes, and continued product development and commercialization.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Issued: Up to 5,000,000 units.
• Price Per Unit: $0.30 CAD.
• Gross Proceeds: Up to $1,500,000 CAD.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to purchase one additional common share.
  • Exercise Price: $0.50 per share.
  • Expiration: Two years from the date of closing.
  • Acceleration Clause: If the closing price on the TSX Venture Exchange equals or exceeds $0.75 for any 10 consecutive trading days, the company may accelerate the expiry date to 30 days after providing notice or issuing a press release. Unexercised warrants expire automatically after acceleration.
• Use of Proceeds: General working capital, corporate purposes, continued product development, and commercialization activities.
• Closing Conditions: Subject to acceptance by the TSX Venture Exchange and other customary closing conditions.
• Hold Period: Units and underlying securities are subject to a statutory hold period of four months and one day from the date of issue.