Business
Backstageplay Announces Closing of First Tranche of Non-Brokered Private Placement of Units
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2025) - Backstageplay Inc. (TSXV: BP.H) ...
About this update from Backstageplay Inc.
[{"type":"text","content":"Backstageplay Announces Closing of First Tranche of Non-Brokered Private Placement of UnitsVancouver, British Columbia--(Newsfile Corp. - June 24, 2025) - Backstageplay Inc. (TSXV: BP.H) (the \"Company\") announced that following receipt of TSXV's conditional approval for the non-brokered unit private placement announced on May 30, 2025 (the \"Offering\") it has completed the first tranche of the Offering and issued an aggregate of 1,250,000 common shares at a price of $0.08 per share, for gross aggregate proceeds of $100,000. Each Unit consists of one common share of the Company and one warrant. Each whole warrant entitles the holder to purchase one share at a price of $0.50 per warrant share for a 12 month period from the closing of the Offering. All securities sold in the Offering will be subject to a statutory hold period of four months and a day from the date of issuance.The Company has paid finder's fees on the Offering in the amount of $6,000 to BMO Nesbitt Burns Inc. The Company may complete multiple closings of the Offering, as subscriptions are received. Each closing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.The total net proceeds from the Offering will be used for the development of a new social gaming platform and content, integration of third-party solutions as well as general corporate working capital.There is no material fact or material change related to the Company that has not been generally disclosed.The Offering remains subject to Exchange approval.For further information please contact:Sean Hodgins, CFO (778) 318-1514Scott White, CEO (416) 704-6611Neither the TSX Venture Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, including statements regarding the closing of the non-brokered financing, the proposed use of funds, and expectation of multiple closings of the private placement, are \"forward-looking statements\". Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties, and other factors that may cause the Company's actual re...