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SATO Technologies Corp. Announces Closing of Second and Final Tranche of $1.375 Million Private Placement and Welcome Former Packet Founders Zac Smith and Jacob Smith as Strategic Investors
Toronto, Ontario--(Newsfile Corp. - March 24, 2026) - SATO Technologies Corp . (TSXV: SATO) (OTC...
About this update from Sato Technologies Corp
[{"type":"text","content":"SATO Technologies Corp. Announces Closing of Second and Final Tranche of $1.375 Million Private Placement and Welcome Former Packet Founders Zac Smith and Jacob Smith as Strategic InvestorsToronto, Ontario--(Newsfile Corp. - March 24, 2026) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (\"SATO\" or the \"Company\") is pleased to announce that, further to its news release dated March 16, 2026, it has successfully closed the second and final tranche of its non-brokered private placement (the \"Offering\"). Aggregate gross proceeds from the first and second tranches of the Offering totaled $1,375,173.82. The Offering was supported by new strategic investors, including Zac Smith and Jacob Smith, recognized leaders in digital infrastructure and cloud computing. In connection with the closing of the second tranche, the Company issued 7,965,370 units (the \"Units\") at a price of $0.06375 per Unit, generating gross proceeds of approximately $507,792.As part of this transaction and the Company's AI infrastructure development program, SATO welcomes Zac Smith and Jacob Smith as new shareholders and advisors. Zac and Jacob are digital infrastructure veterans who co-founded bare metal startup Packet (acquired by Equinix for $335M in 2020) and now Datum, an open network cloud for AI. Their experience in automated compute, developer ecosystems, and enterprise go-to-market adds strategic depth as SATO continues to enhance and diversify its existing digital infrastructure platform, including the development of AI-optimized compute capabilities that complement its established operations.The Offering supports SATO's continued build-out of its digital infrastructure platform, including the development of high-performance AI compute capacity alongside its ongoing cryptocurrency mining operations, all powered by renewable energy in Québec.Each Unit issued in connection with the second tranche of the Offering consists of one common share (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"), with each Warrant entitling the holder to acquire one additional Common Share at an exercise price of $0.085 per Common Share during the first year following the date of issuance, and $0.10 per Common Share thereafter, until March 23, 2031.In connection with the Offering, the Company issued finder's warrants (\"Finder Warrants\")...