Wi2Wi closes $700,000 private placement

Executive Summary

• Wi2Wi Corp. has closed a non-brokered private placement raising $700,000 in gross proceeds through the issuance of 14 million units at $0.05 per unit.
• The offering was entirely subscribed by Chris Wardle, who increased their beneficial ownership from approximately 5.00% to 11.71% of the issued and outstanding shares on a non-diluted basis.
• Net proceeds are designated for prepaying key suppliers to secure critical production inventory for customer orders and for general working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Gross Proceeds: $700,000.
• Units Issued: 14,000,000 units.
• Price Per Unit: $0.05.
• Unit Composition: Each unit consists of one common share and one share purchase warrant.
• Warrant Terms:
  • Each warrant entitles the holder to purchase one additional common share.
  • Exercise Price: $0.10 per share.
  • Term: Two years from the closing date.
  • Acceleration Clause: If the closing price on the TSX Venture Exchange is $\ge$ $0.10 for 10 consecutive trading days, the company may accelerate the expiry date to 30 days following the issuance of an acceleration press release. Unexercised warrants expire immediately after acceleration.
• Use of Proceeds:
  • Prepay key suppliers to secure critical production inventory for outstanding and time-sensitive customer orders.
  • General working capital purposes.
• Fees: No finders' fees were paid.
• Hold Period: Statutory hold period until November 26, 2025.
• Early Warning Disclosure (Chris Wardle):
  • Pre-Offering Ownership: 9,215,000 shares and 1.25 million warrants (~5.00% non-diluted).
  • Acquisition: 14 million units for $700,000.
  • Post-Offering Ownership: 23,215,000 common shares (~11.71% non-diluted).
  • Intent: Investment purposes; may increase or decrease ownership based on market conditions.