RIWI Announces A Non-Brokered Private Placement To Raise Up To $1.5 Million

Executive Summary

• RIWI Corp. announced a non‑brokered private placement of up to 5,000,000 units at $0.30 per unit, targeting gross proceeds of up to $1.5 million.
• Each unit includes one common share and half of a warrant that allows the holder to purchase an additional share at $0.50 for two years, with an acceleration clause tied to the TSX‑V price reaching $0.75 for 10 consecutive trading days.
• Proceeds will be used for general working capital, product development, and commercialization activities.

Key Details

• Units Offered: Up to 5,000,000 units at $0.30 per unit.
• Aggregate Gross Proceeds: Up to $1,500,000.
• Unit Composition: 1 common share + ½ of a common‑share purchase warrant.
• Warrant Terms: Right to buy one additional share at $0.50 per share; exercisable for two years from closing.
• Acceleration Clause: If TSX‑V price ≥ $0.75 for any 10 consecutive trading days, RIWI may accelerate warrant expiry to 30 days after notice/press release; unexercised warrants then expire automatically.
• Use of Proceeds: General working capital and corporate purposes, including continued product development and commercialization.
• Closing Conditions: Subject to TSX Venture Exchange acceptance and customary closing conditions.
• Statutory Hold Period: Units (and underlying securities) subject to a four‑month‑plus‑one‑day hold period per securities law.
• Regulatory Disclaimers: Offering not an offer or solicitation in jurisdictions where unlawful; U.S. securities registration not applicable.

Notable Quotes

• “The capital raised will support our ongoing product development and commercialization initiatives, positioning RIWI for continued growth,” – Greg Wong, Chief Executive Officer.