Plaid Technologies closes $851,000 first tranche

Executive Summary

• Plaid Technologies Inc. has closed the first tranche of its previously announced non-brokered private placement, issuing 680,800 common shares.
• The transaction generated gross proceeds of $851,000 at a price of $1.25 per share, with no finders' fees paid.
• Net proceeds are designated to supplement working capital, extend the company's financial runway for technology development and sales/marketing, and fund the potential purchase of additional graphene inventory.

Key Details

• Transaction Structure: Non-brokered private placement (First Tranche).
• Shares Issued: 680,800 common shares.
• Price Per Share: $1.25.
• Gross Proceeds: $851,000.
• Finders' Fees: None.
• Lock-up Period: Statutory hold period of four months and one day from issuance, expiring on Feb. 25, 2026.
• Use of Proceeds: Supplementing previously disclosed use of funds (listing statement dated Aug. 13, 2025) for working capital, extending runway for technology development, sales and marketing of the company's product, and potential purchase of additional graphene inventory.
• Future Plans: The company anticipates completing the balance of the offering shortly.

Notable Quotes

• No direct quotes from management were included in the provided text.