BEACN Closes First Tranche of Non-Brokered Private Placement

Executive Summary

• BEACN Wizardry & Magic Inc. closed the first tranche of its non‑brokered private placement, issuing 3,043,478 common shares at C$0.115 per share for gross proceeds of $350,000.
• Proceeds are earmarked to accelerate B2B and B2C sales initiatives, fund strategic inventory purchases, continue R&D on new products, and provide general working capital.
• The offering is subject to customary closing conditions, including final TSX Venture Exchange approval; no finders’ fees were paid and the shares will be subject to a four‑month‑plus hold period.

Key Details

• Shares Issued: 3,043,478 common shares of BEACN.
• Price per Share: C$0.115.
• Gross Proceeds: $350,000 (CAD).
• Use of Proceeds:
• Accelerate B2B and B2C sales initiatives.
  – Support strategic inventory purchases of current and new products.
  – Continue research and development of new products.
  – General working capital.
• Closing Conditions: Subject to receipt of all necessary approvals, including final TSX Venture Exchange approval.
• Finder’s Fees: None paid in connection with the private placement.
• Hold Period: Shares subject to a hold period expiring four months and one day from the closing date under Canadian securities law.

Notable Quotes

(No executive quotes were included in the release.)