Turnium Technology arranges $6-million financing

Executive Summary

• Turnium Technology Group Inc. announced a non-brokered private placement of up to 85,714,285 units at $0.07 per unit, targeting aggregate gross proceeds of up to $6 million.
• The proceeds are designated to retire approximately $2.5 million in debt facilities and fund $3.5 million in working capital for growth initiatives, including the rollout of NexNet SD-WAN and Insentra services.
• The offering is subject to TSX Venture Exchange approval and is anticipated to close on or around April 30, 2026, with securities subject to a four-month-plus-one-day hold period.

Key Details

• Structure: Non-brokered private placement of up to 85,714,285 units.
• Price: $0.07 per unit.
• Gross Proceeds: Up to $6,000,000.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each whole warrant entitles the holder to purchase one common share at an exercise price of $0.10 per share for a period of three years from issuance.
• Use of Proceeds:
  • Approximately $2.5 million to retire certain debt facilities.
  • Approximately $3.5 million for working capital purposes related to growth initiatives (strategic partnerships, sales and marketing, and rollout of NexNet SD-WAN and Insentra services to 280-plus-partner channel).
• Regulatory/Exchange Conditions: Completion is subject to approval of the TSX Venture Exchange. Securities issued pursuant to exemptions from prospectus requirements under National Instrument 45-106.
• Hold Period: Four months plus one day from the date of issuance.
• Insider Participation: Insiders may participate; details to be announced at a later date.
• Finder’s Fees: The company may pay finders' fees of up to 7% in cash and 7% in finders' warrants to eligible finders.
• Closing Timeline: Anticipated to be completed on or around April 30, 2026.
• Tranches: The offering may close in multiple tranches.