Dr. Phone Fix closes $1.23M first tranche of financing

Executive Summary

• Dr. Phone Fix Canada Corp. completed the first tranche of its non‑brokered private placement, issuing 8,258,336 units at $0.15 per unit for gross proceeds of $1,238,750.40.
• Each unit consists of one common share and half a common share purchase warrant (exercise price $0.25, two‑year term); finders received cash and additional warrants equal to 7 % of the gross proceeds/subscribed units.
• The financing supports the company’s growth plan to double its store count from 35 to 70 within 12–18 months and fund M&A activity.

Key Details

• Offering Size: Up to 16,666,667 units at $0.15 per unit (maximum gross proceeds $2.5 M).
• First Tranche Issuance: 8,258,336 units; gross proceeds $1,238,750.40.
• Unit Composition: 1 common share + ½ common share purchase warrant (exercise price $0.25, exercisable for two years).
• Statutory Hold Period: All securities subject to a four‑month‑plus‑one‑day hold period.
• Finder Fees: Cash payment of 7 % of gross proceeds plus warrants equal to 7 % of subscribed units issued to finders.
• Related Party Transaction: One director subscribed for 990,000 units; transaction relied on MI 61‑101 exemptions (sections 5.5(a–c), 5.7(1)(a)).
• Closing Timeline: Expected closing around Oct. 23, 2025, subject to TSX‑V approval and customary conditions.
• Potential Upside: Company may increase offering size up to 26,666,667 units for gross proceeds up to $4 M before final closing.

Notable Quotes

“The successful closing of this first tranche marks an important step in executing on our strategic plan,” said Piyush Sawhney, CEO.
“We remain focused on accelerating our growth through a disciplined M&A strategy alongside organic store openings, with the clear intention of doubling our store count from 35 to 70 over the next 12 to 18 months.”