BEACN Wizardry & Magic’s Successful Private Placement

BEACN Wizardry & Magic Inc (TSE:BECN) has released an update.

BEACN Wizardry & Magic Inc. has successfully completed the first tranche of its planned non-brokered private placement, issuing over 2.8 million common shares at C$0.18 each, raising approximately $520,000. Investors have the option to convert their shares into EBC Shares, potentially qualifying for a 30% tax credit, but with a five-year sale restriction. The capital raised is earmarked for enhancing sales efforts, strategic inventory investments, ongoing product research and development, as well as general working capital needs.

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