Business
The FUTR Corporation to Complete $5.1 Million Financing, 17 Million $0.30 Units Fully Committed
Toronto, Ontario--(Newsfile Corp. - August 26, 2025) - The FUTR Corporation (TSXV: FTRC) ("FUTR...
About this update from Futr Corporation
[{"type":"text","content":"The FUTR Corporation to Complete $5.1 Million Financing, 17 Million $0.30 Units Fully CommittedToronto, Ontario--(Newsfile Corp. - August 26, 2025) - The FUTR Corporation (TSXV: FTRC) (\"FUTR\" or the \"Company\"), a consumer-centric platform for data valuation and monetization, is pleased to announce that it has received firm commitments for a non-brokered private placement of 17 million Units at $0.30 per Unit for aggregate proceeds of $5.1 million. The financing is scheduled to close September 4, 2025. Each Unit is priced at $0.30 per Unit and consists of one common share and one-half warrant. Each Warrant is exercisable to acquire one Common Share at a price of $0.45 until December 31, 2027, unless the stock trades at $2.20 per share on a VWAP basis over a 10-day period at which point the Board may determine to accelerate the expiration date of the Warrants to 30 days following a press release announcing such. Net proceeds of the offering will be used for general working capital and growth initiatives, including potential acquisitions. FUTR President Alex McDougall said: \"We are very grateful for the support of many new shareholders and several existing shareholders who are enthusiastic about our vision of The FUTR Corporation. We have an ambitious plan with FUTR and are confident we will be a leader in the personal data monetization space.\"It is expected that insiders of the Company, Michael Hilmer, Alex McDougall, Jay Graver and G Scott Paterson will participate in the Financing for an aggregate amount of $270,000 representing 900,000 Units. Such participation is considered a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). In completing such transaction, the Company relying on exemptions from the formal valuation and minority shareholders approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the Insiders' participation in the Offering does not exceed 25% of the fair market value of the Company's market capitalization.The Units are being offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. All securities issued are subject to a four month hold period, in accordance with applicable securities laws and the policies of t...