Boba Mint Closes First Tranche of Financing Led by CEO Andrew Shore

Executive Summary

• Boba Mint Holdings Ltd. closed the first tranche of its non‑brokered private placement, raising $250,000 from the issuance of 2,500,000 common shares at $0.10 per share.
• All shares were subscribed by insider Andrew Shore (CEO of WERD Studios); the transaction is a related‑party exemption under MI 61‑101.
• Net proceeds will be used for general working capital and to support game development and platform growth at WERD Studios.

Key Details

• Offering Size: First tranche – 2,500,000 common shares @ $0.10 each = $250,000 gross proceeds.
• Subscription: Fully subscribed by Andrew Shore, existing insider and CEO/founder of WERD Studios.
• Related‑Party Transaction: Exempt from formal valuation/minority approval under Sections 5.5(a) & 5.7(1)(a) of MI 61‑101 (fair market value ≤ 25% of market cap).
• Use of Proceeds: General working capital; support continued game development and platform growth at WERD Studios.
• Hold Period: Statutory hold period of four months plus one day from issuance date.
• Regulatory Conditions: Closing subject to final approval by the Canadian Securities Exchange.
• Potential Additional Tranches: Company may close further tranches for aggregate gross proceeds up to $750,000.
• Share Ownership Impact:
• Pre‑offering: Shore held ~18,000,000 shares (≈ 17.47% of outstanding).
• Post‑offering: Shore holds ~20,5 million shares (≈ 19.43% of outstanding).
• Early Warning Reporting: Shore will file an early warning report per NI 62‑103; copies available on SEDAR+.

Notable Quotes

“The closing of this first tranche reflects my continued confidence in Boba Mint's strategy and the strong progress being made across our portfolio, particularly at Amino,” – Andrew Shore, CEO & Founder, WERD Studios.