Parent Capital closes $758,060 private placement

Executive Summary

• Parent Capital Corp. closed a private placement of 12,634,333 units at $0.06 per unit, generating gross proceeds of $758,060.
• Net proceeds will be used to pay accounts payable, settle debt, and for general corporate purposes.
• The company also arranged a debt settlement of $61,960.02 in exchange for 1,032,667 common shares at a deemed price of $0.06 per share.

Key Details

• Units Issued: 12,634,333 units (each unit = 1 common share + 1 warrant).
• Price per Unit: $0.06.
• Gross Proceeds: $758,060.
• Warrant Terms: Exercise price $0.09 per common share; exercisable for two years.
• Finder’s Fees Paid: $5,501.40 plus issuance of 50,000 finder warrants (same exercise terms as above).
• Related Party Participation: One director subscribed for $9,000; treated as a related‑party transaction under MI 61‑101.
• Regulatory Conditions: Closing subject to final TSX Venture Exchange approval; securities subject to four‑month hold period.
• Use of Proceeds: Payment of accounts payable, settlement of existing debt, and general corporate purposes.
• Debt Settlement Agreement: Company will settle $61,960.02 owed to creditors by issuing 1,032,667 common shares at a deemed price of $0.06 per share.
• Purpose of Debt Settlement: Preserve cash for working capital and improve financial position by reducing liabilities; subject to customary closing conditions and regulatory approvals.

Notable Quotes

(No executive quotes were provided in the release.)