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FeralX Systems Inc. Announces Private Placement and Execution of Next Dynamic Asset Purchase Agreement
FeralX Systems Inc. Announces Private Placement and Execution of Next Dynamic Asset Purchase Agreement.
About this update from Next Dynamics Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n FeralX Systems Inc. Announces Private Placement and Execution of Next Dynamic Asset Purchase Agreement\r\n \r\n \r\n\r\n\r\nFeralX Systems Inc. Announces Private Placement and Execution of Next Dynamic Asset Purchase Agreement\r\n\r\n\r\n\r\nNewsfile Corp.\r\n\r\n\r\nNewsfile Corp\r\n\r\n\r\nVancouver, British Columbia--(Newsfile Corp. - May 6, 2026) - FeralX Systems Inc. (\"FeralX\" or the \"Company\"), previously named 1246777 B.C. Ltd., is pleased to announce: (a) a non-brokered private placement (the \"Private Placement\") of common shares in the capital of the Company (each, a \"Common Share\"); (b) the closing of the first tranche of the Private Placement; and (c), further to its May 1, 2026 news release, the execution of an asset purchase agreement (the \"APA\") to acquire certain intellectual property from Next Dynamics Inc.\r\nPrivate Placement\r\nThe Company intends to issue up to 5,000,000 Common Shares at a price of $0.40 per Common Share for aggregate gross proceeds of up to $2,000,000.\r\nThe net proceeds of the Private Placement are expected to be used for working capital, general corporate purposes, and to acquire additional assets, including those being purchase pursuant to the APA.\r\nIn connection with the Private Placement, the Company may pay cash finder's fees to eligible finders in accordance with applicable securities laws. Any such fees in, if any, will be disclosed in follow-on news releases.\r\nThe Company does not anticipate any insider participation in the Private Placement.\r\nAll securities issued under the Private Placement will be subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.\r\nClosing of First Tranche\r\nThe Company has closed the first tranche of the Private Placement for aggregate gross proceeds of $395,000, issuing 987,500 Common Shares at a price of $0.40 per Common Share (\"First Tranche\").\r\nNo insiders of the Company participated in the First Tranche and no finders' fees were paid.\r\nAsset Purchase Agreement\r\nThe Company has entered into the APA dated May 6, 2026, with Next Dynamics Inc. (\"Next Dynamics\") to acquire certain Canadian intellectual property (the \"Assets\") for total consideration of $595,000 comprised of: (a) cash consideration of $100,000; and (b) the assumption of debt in th...