Business
FUTR Announces Closing of $1.25 Million Financing
Toronto, Ontario--(Newsfile Corp. - May 23, 2025) - The FUTR Corporation (TSXV: FTRC) ("FUTR" o...
About this update from Futr Corporation
[{"type":"text","content":"FUTR Announces Closing of $1.25 Million FinancingToronto, Ontario--(Newsfile Corp. - May 23, 2025) - The FUTR Corporation (TSXV: FTRC) (\"FUTR\" or the \"Company\"), a consumer platform enabled by AI Agents and intelligent payment rails that is focused on putting money back in the consumers wallet through data monetization and automated cash management, is pleased to announce that it has completed a new non-brokered private placement of units of the Company. Under the offering 6,250,000 Units were issued at a price of $0.20 per Unit for gross proceeds of $1,250,000.Each Unit is priced at $0.20 per Unit and consists of one common share and one warrant. Each Warrant is exercisable to acquire one Common Share at a price of $0.2875 until June 30, 2027, unless the term of the Warrant is accelerated pursuant to its terms. Net proceeds of the combined offerings will be used for general working capital and growth initiatives, including potential acquisitions. The Units were offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. All securities issued are subject to a hold period expiring September 24, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The Offering has received conditional approval from the TSXV.The Company may pay to eligible persons a cash finder's fee up to 7% of the gross proceeds from the Units placed by the Finders and issue finder unit warrants up to 7% of the aggregate number of Units sold under the Offering attributable to the Finders. Each Finders Unit Warrant shall be exercisable to acquire one Unit of the Company until March 30, 2027, at an exercise price of $0.20 per Unit. A cash finder's fee in the amount of $13,300 was paid in connection with the Offering. The Company also issued 66,500 finder's warrants. The securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitat...