Financing type: non-brokered private placement
Gross proceeds:
$336,308.00
Offering:
8,407,700 units with 8,407,700 warrants attached
Offering price: four cents per unit
Warrant exercise terms:
eight cents per listed share for a two-year period, subject to an acceleration right
Commissions in securities: N/A
In connection with the non-brokered private placement, the TSX Venture Exchange has accepted for filing documentation the royalty right certificate and subscription agreement, between the company and subscribers of the royalty rights offering (the investors). Pursuant to the terms of agreement, the company has issued 8,407,700 contractual royalty rights at a price of one cent per royalty right for aggregate gross proceeds of $84,077. Each royalty right entitles the holder, on a pro rata basis, to receive quarterly distributions in arrears of up to 50 per cent of the company's cash flow distribution generated from certain pilot projects. The total cumulative distributions to all royalty rights holders are capped at 50 per cent of the total gross proceeds raised through the royalty rights offering. If the distribution cap is met, all royalty rights will automatically terminate.
Disclosure: refer to the company's news releases dated June 22, 2026, Sept. 11, 2026, and Sept. 28, 2026
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