SuperBuzz Announces Closing of First Tranche of Non-Brokered Private Placement

Executive Summary

• SuperBuzz Inc. closed the first tranche of its previously announced non‑brokered private placement, issuing 1,966,033 units at $0.15 per unit for gross proceeds of $294,905.10.
• Each unit consists of one common share and one warrant (exercise price $0.25, 24‑month term). Net proceeds are earmarked for working capital and general corporate purposes.
• Insiders subscribed for 333,366 units ($50,005 gross), constituting a related‑party transaction exempt from formal valuation and minority‑shareholder approval under MI 61‑101.

Key Details

• Units Issued: 1,966,033 (each = 1 common share + 1 warrant)
• Price per Unit: $0.15
• Gross Proceeds: $294,905.10
• Net Proceeds Use: Working capital and general corporate purposes
• Warrant Terms: Exercise price $0.25 per share; exercisable for 24 months from issuance date
• Insider Participation: 333,366 units subscribed; gross proceeds $50,005
• Related‑Party Transaction: Exempt under sections 5.5(a) and 5.7(1)(a) of MI 61‑101 (fair market value ≤ 25% of market cap)
• Finder’s Compensation: Cash commission $2,100 plus 14,000 finder’s warrants (exercise price $0.25, 24‑month term) issued to an arm’s‑length party
• Statutory Hold Period: All securities subject to a four‑month‑plus‑one‑day hold period per Canadian securities law
• Regulatory Condition: Closing pending final approval by the TSX Venture Exchange (TSXV); additional tranches may be completed

Notable Quotes

(No direct quotes were provided in the release.)