Boba Mint closes $250,000 first tranche of placement

Executive Summary

• Boba Mint Holdings Ltd. has closed the first tranche of its previously announced non-brokered private placement, raising gross proceeds of $250,000.
• The tranche was fully subscribed by CEO Andrew Shore, constituting a related party transaction exempt from formal valuation and minority shareholder approval requirements under MI 61-101.
• The company retains the ability to close additional tranches for aggregate gross proceeds of up to $750,000, subject to final regulatory approval from the Canadian Securities Exchange.

Key Details

• Transaction Structure: Non-brokered private placement, first tranche closed.
• Gross Proceeds: $250,000.
• Securities Issued: 2,500,000 common shares.
• Price Per Share: $0.10.
• Subscriber: Andrew Shore (CEO, Founder of WERD Studios, and existing insider).
• Regulatory Status: Exempt from MI 61-101 formal valuation and minority shareholder approval because the fair market value of securities issued does not exceed 25% of the company's market capitalization.
• Use of Proceeds: General working capital purposes and to support continued game development and platform growth at WERD Studios.
• Statutory Hold: Four months plus one day from the date of issuance.
• Remaining Capacity: The company may close additional tranches for aggregate gross proceeds of up to $750,000.
• Insider Ownership Change:
  • Pre-transaction: 18,000,000 shares (~17.47% of issued and outstanding).
  • Post-transaction: 20,500,000 shares (~19.43% of issued and outstanding).
• Regulatory Filings: An early warning report will be filed pursuant to National Instrument 62-103.

Notable Quotes

• "The closing of this first tranche reflects my continued confidence in Boba Mint's strategy and the strong progress being made across our portfolio, particularly at Amino," said Andrew Shore, chief executive officer and founder of WERD Studios. "We remain focused on execution, scaling user engagement and building long-term shareholder value."