Business
Miivo Announces Closing of Private Placement Financing for Gross Proceeds of $4.4 Million
All references to dollar amounts herein are references to Canadian Dollars Vancouver, British C...
About this update from Miivo Holdings Corp.
[{"type":"text","content":"Miivo Announces Closing of Private Placement Financing for Gross Proceeds of $4.4 MillionAll references to dollar amounts herein are references to Canadian DollarsVancouver, British Columbia--(Newsfile Corp. - January 30, 2026) - Miivo Holdings Corp. (TSXV: MIVO) (OTCID: MIVOF) (\"Miivo\" or the \"Company\") is pleased to announce the closing of its previously announced and increased non-brokered private placement financing (the \"Offering\") of $4,400,000 from the sale of 8,800,000 units (each, a \"Unit\") at a price of $0.50 per Unit. Due to interest following announcement of the Offering on December 18, 2025, and in accordance with the policies of the TSX Venture Exchange (the \"Exchange\") and applicable pricing requirements under Exchange policies, the Company increased the Offering amount by 800,000 Units or $400,000. Each Unit pursuant to the Offering consists of one (1) common share (each, a \"Common Share\") in the capital of the Company and one-half-of-one (1/2) non-transferrable Common Share purchase warrant (each whole warrant, a \"Warrant\"), with each Warrant entitling the holder thereof to acquire one additional Common Share (each, a \"Warrant Share\") at a price of $0.75 per Warrant Share until July 30, 2027.The Company intends to use the proceeds from the Offering for marketing its AI-powered chief financial officer and management platform, AI CFO, in an expanding number of countries and for general working capital purposes.Certain insiders of the Company participated in the Offering, which constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company has relied on the exemptions from the formal valuation requirements set out in section 5.5(a) and the minority shareholder approval requirements set out in section 5.7(1)(a) of MI 61-101, as the fair market value of the insider participation did not exceed 25% of the Company's market capitalization.In connection with the Offering, the Company intends to pay fees in accordance with the policies of the Exchange, cash commissions totalling $201,600, being 7.0% of proceeds received and 403,200 non-transferable Common Share purchase warrants (each, a \"Finder's Warrant\") equal to 7.0% of Units issued to subscribers introduced to the Company ...