Goat Industries Announces Closing Of First Tranche Of Private Placement

Executive Summary

• GOAT Industries Ltd. completed the first tranche of its non‑brokered private placement, raising C$2,019,199.80 from the sale of 6,730,666 Units at C$0.30 per Unit.
• Net proceeds will fund the previously announced acquisition of BETSource (1509467 B.C. Ltd. and Vroom, Inc.), support expansion of BETSource’s business, future investments, and general corporate purposes.
• The placement included related‑party participation (66,666 Units) to settle accrued management fees and involved finder’s fees of C$99,414 and issuance of broker warrants.

Key Details

• Units sold: 6,730,666 Units at C$0.30 per Unit → Gross proceeds: C$2,019,199.80.
• Unit composition: 1 common share + ½ common share purchase warrant (each whole warrant allows purchase of one additional share at $0.45 for two years).
• Use of proceeds:
• Fund acquisition of BETSource (1509467 B.C. Ltd. and Vroom, Inc.).
• Expand and develop BETSource’s business.
• Future investments by GOAT Industries.
• General corporate and administrative purposes.
• Finder’s fees paid: C$99,414.00.
• Broker warrants issued: 331,380 broker warrants (each for ½ common share at C$0.45, exercisable for two years).
• Related‑party transaction: Insider entity purchased 66,666 Units to settle accrued management fees of C$10,020; exempt from MI 61‑101 valuation and minority approval thresholds (<25% market cap).
• Statutory hold period: All securities subject to a four‑month plus one‑day hold period from issuance.

Notable Quotes

• “The net proceeds of the Offering will be used to fund the Company’s previously announced acquisition of BETSource, to expand and develop BETSource’s business, for future investments by the Company, and for general corporate and administrative purposes.” – Kevin Cornish, CEO

Materiality Assessment: Material – Positive (significant financing that enables a strategic acquisition and expansion).