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BEACN Wizardry & Magic Inc. Announces $1,000,000 Non-Brokered Private Placement
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About this update from Beacn Wizardry & Magic Inc
[{"type":"text","content":"BEACN Wizardry & Magic Inc. Announces $1,000,000 Non-Brokered Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Not for distribution to United\nStates Newswire Services or for dissemination in the United\nStates\n \n \n \n Vancouver, BC –\n \n TheNewswire -\n \n November 08,\n2022 -\n \n BEACN Wizardry & Magic\nInc.\n \n (TSXV:BECN) (“BEACN” or the “Company”) is\npleased to announce that it intends to proceed with a non-brokered\nprivate placement (the “Offering”) of up to 4,000,000 units of the\nCompany (the “Units”) at a price of C$0.25 per Unit for gross\nproceeds to the Company of up to $1,000,000.\n \n \n Each Unit will be comprised of one common share (a “Share”) and\none non-transferable common share purchase warrant (a “Warrant”).\nEach Warrant will entitle the holder to purchase one additional Share\nfor a period of three years from the closing of the offering for\n$0.45.\n \n \n \n \"We're delighted to have\nreceived strong positive reception for BEACN Mic, BEACN Mix Create,\nand BEACN Mix by our target customer group of online content creators.\nNow, we embark on the exciting journey to grow our product ecosystem\nand worldwide availability via expanded warehousing, inventory, and\nsales channel opportunities. The proceeds of this financing will help\naccelerate our efforts in both innovation and customer\nacquisition.\"\n \n \n noted Craig Fraser, CEO of\nBEACN.\n \n \n \n Directors and officers of BEACN and shareholders owning more than 10%\nof the Company’s Common Shares may participate in the Offering for a\nyet to be determined amount. Any such participation in the Offering\nwill constitute a “related party transaction” as defined in\nMultilateral Instrument 61-101 –\n \n Protection of Minority Security Holders in Special Transactions\n \n (“61-101”). The Offering will be exempt from the formal\nvaluation and minority shareholder approval requirements of 61-101 as\nneither the fair market value of the securities issued to related\nparties nor the consideration for such securities will exceed 25% of\nthe Company’s market capitalization. A material change report will\nbe filed in connect...