Mr. Evan Gappelberg reports
NEXTECH3D.AI CLOSES $720,000 MANAGEMENT-LED PRIVATE PLACEMENT
Nextech3D.AI Corp.'s previously disclosed non-brokered private placement has been fully subscribed for aggregate gross proceeds of $720,000, representing 12 million units at a price of six cents per unit.
Associates of chief executive officer Evan Gappelberg and chief financial officer Anum Waqas have subscribed for more than $400,000 combined in the offering, representing more than half of the total gross proceeds.
Management comment
"Our investment in this financing reflects our confidence in Nextech3D.AI's long-term strategy and our commitment to investing alongside our shareholders," said Evan Gappelberg, chief executive officer of Nextech3D.AI. "We are focused on growing revenue, expanding our recurring software business and leveraging AI [artificial intelligence] across our event technology platforms to drive enterprise adoption and create new revenue opportunities. The proceeds from this financing will support our working capital needs as we continue executing on these priorities."
Offering terms
Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share at an exercise price of seven cents per share for three years from the closing date.
If the closing price of the common shares on the Canadian Securities Exchange equals or exceeds 15 cents for 10 consecutive trading days at any time after the date that is four months and one day following closing, the company may accelerate the expiry date of the warrants to the date that is 30 days following issuance of a press release announcing such acceleration.
The company intends to use the net proceeds of the offering for general working capital and corporate purposes.
Securities issued and issuable under the offering will be subject to a statutory hold period of four months and one day from the closing date under applicable Canadian securities laws, expiring on March 10, 2027. The offering remains subject to the final approval of the CSE.
Correction to previous disclosure
The company also wishes to correct its Nov. 3, 2026, announcement concerning issuance of one million common shares at a deemed price of 14 cents per share to a service provider in satisfaction of amounts owing. The original announcement indicated that the statutory hold period applicable to such common shares expires on March 1, 2027; however, the correct date is March 7, 2027.
About Nextech3D.AI Corp.
Nextech3D.AI is an AI-first technology company focused on developing and commercializing technology solutions across event technology, interactive mapping, engagement and enterprise applications. Its portfolio includes Eventdex, Map D, KraftyLab and Kate, which form the foundation of the company's evolving AI-first enterprise software strategy.
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