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Elevate Service Group Closes Additional $1.0 Million Private Placement at a Premium to Accommodate Strategic Investors
Incremental financing reflects continued investor demand following Elevate's successful public li...
About this update from Elevate Service Group Inc
[{"type":"text","content":"Elevate Service Group Closes Additional $1.0 Million Private Placement at a Premium to Accommodate Strategic InvestorsIncremental financing reflects continued investor demand following Elevate's successful public listing, and strengthens the Company's balance sheet to support near-term executionToronto, Ontario--(Newsfile Corp. - December 16, 2025) - Elevate Service Group Inc. (TSXV: SERV) (\"Elevate\" or the \"Company\") is pleased to announce that it has closed an additional non-brokered private placement (the \"Offering\") of 953,000 common shares at a price of $1.05 per common share for gross proceeds of approximately $1.0 million. The Offering was selectively opened to accommodate a small number of strategic investors following the Company's successful public listing. The financing was completed at a premium to Elevate's previously announced $9.1 million private placement at $1.00 per share, which formed part of the Company's qualifying transaction and public listing completed in November 2025.Net proceeds from the Offering will be used to strengthen Elevate's balance sheet, support working capital requirements, advance organic growth initiatives, and provide additional flexibility to pursue potential strategic acquisitions.\"Following our public listing, we were approached by a number of strategic investors who expressed interest to participate in Elevate's growth,\" said Paul Bissett, Chief Executive Officer of Elevate. \"We made a deliberate decision to modestly increase our equity capital at a premium valuation to accommodate these investors while maintaining balance sheet discipline and minimizing dilution. Combined with the $9.1 million raised in November, total equity capital raised now exceeds our original $10.0 million target established as part of the qualifying transaction.\"Elevate paid cash finder's fees of 6.0%, representing $60,039, and issued compensation options of 6.0%, representing 57,180 options. Each compensation option entitles the holder to acquire one common share of Elevate at an exercise price of $1.25 per share for a period of 18 months. The Offering closed on December 16, 2025. The common shares issued pursuant to the Offering were distributed under applicable prospectus exemptions and are subject to resale restrictions, including a statutory hold period of four months and one day from the date o...