MyndTec Inc. Completes Additional Tranche of Non-Brokered Private Placement

Executive Summary

• MyndTec Inc. closed the tenth tranche of its non‑brokered private placement, issuing 618,118 Units at $0.20 per Unit for gross proceeds of $123,623.60.
• The total units issued to date under the offering now equal 5,337,323, representing aggregate gross proceeds of $1,067,493.40.
• Net proceeds are earmarked for general corporate purposes, including working capital, corporate development, machine‑learning model development, debt repayment, investor relations and marketing.

Key Details

• Units Issued (Current Tranche): 618,118 Units at $0.20 per Unit → Gross Proceeds: $123,623.60.
• Composition of Each Unit: 1 Common Share + ½ Common Share purchase warrant (each whole warrant exercisable for one Common Share at $0.24 per share, exercisable for 36 months post‑closing).
• Cumulative Offering Totals: 5,337,323 Units issued to date → Aggregate Gross Proceeds: $1,067,493.40.
• Use of Net Proceeds: General corporate purposes – working capital, corporate development, machine‑learning model development, settlement of outstanding debt obligations, investor relations and marketing.
• Statutory Hold Period (Canada): 4 months from closing date for Units and underlying securities.
• U.S. Securities Restrictions: Units not registered under the U.S. Securities Act; transfer restricted to registration or applicable exemption.
• Related Party Participation: Related parties subscribed for Units; transaction qualifies as a “related party transaction” under MI 61‑101 but is exempt from valuation and minority shareholder approval requirements because fair market value ≤ $2.5 M and securities are not listed on a specified market.
• Closing Condition: Final acceptance by the Canadian Securities Exchange required.

Notable Quotes

(No executive quotes were provided in the release.)