Inverite Insights closes second tranche of financing

Executive Summary

• Inverite Insights Inc. closed the second tranche of its fully‑subscribed $1.5 M private placement, issuing 1,409,920 units for gross proceeds of $294,487.95.
• The company settled $83,000 of loans, accrued interest and accounts payable by issuing an additional 553,333 units.
• Insiders purchased 590,587 units (≈ 1.14% of common equity; ≈ 1.71% if warrants exercised), constituting a related‑party transaction exempt from minority‑shareholder approval under MI 61‑101.

Key Details

• Units Issued – Tranche 2: 1,409,920 units (each unit = 1 common share + ½ warrant).
• Warrant Terms: Whole warrant exercisable at $0.20 per share for a two‑year period.
• Gross Proceeds: $294,487.95 from the second tranche.
• Debt Settlement Units: 553,333 units issued to extinguish $83,000 of loans, accrued interest and accounts payable.
• Hold Period: All securities subject to a lock‑up until January 30, 2026.
• Insider Participation: Insiders/related parties acquired 590,587 units; represents ~1.14% of issued common shares (≈ 1.71% if warrants exercised).
• Related‑Party Transaction: Exempt from formal valuation and minority‑shareholder approval per MI 61‑101 sections 5.5(a)&(b), 5.7(1)(a) because the transaction value is < 25% of market cap.
• Consultant Engagement: Extension of arm’s‑length consultant agreement; consultant granted 333,332 restricted share units (RSUs), each convertible to one common share upon vesting.
• RSU Vesting Schedule: 25% vests every three months in arrears from the grant date.

Notable Quotes

(No direct quotes provided in the release.)