Nextech3D.AI to issue 30M units at C$0.12 in private placement

Nextech3D.AI announces it proposes to complete a private placement pursuant to which it will issue up to 30,000,000 units at a price of $0.12 per Unit, to raise aggregate gross proceeds of up to $3.6 million. Each Unit will be comprised of one common share of the Company and one common share purchase warrant; with each whole Warrant exercisable to acquire one additional common share at a price of $0.17 for a period of 36 months from the date of issuance thereof. An aggregate of up to 19,500,000 Units will be issued pursuant to National Instrument 45-106 in accordance with Part 5A thereof to purchasers resident in Canada, except Quebec, and other jurisdictions outside of Canada. The Units offered under the Listed Issuer Financing Exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at https://www.nextechar.com/. Prospective investors should read this offering document before making an investment decision. The net proceeds from the Offering will be used for working capital and general corporate purposes. The Offering is anticipated to close on or about the week of November 22, 2023, or such later date as the Company may determine. The Company may pay a finders fee of up to 8% of the gross proceeds of the Offering to eligible registrants assisting in the Offering, and issue such number of broker warrants as is equal to up to 8% of the number of Units sold by such registrants, with each Broker Warrant entitling the holder to acquire one Share at $0.12 for a period of 36 months. The Closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.