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Vitalist Inc. Announces Closing of $2,542,080 Private Placement of Equity Royalty Units
(TheNewswire) Calgary, AB, Canada – May 23, 2025 – TheNewswir...
About this update from Vitalist Inc
[{"type":"text","content":"Vitalist Inc. Announces Closing of $2,542,080 Private Placement of Equity Royalty Units\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Calgary, AB, Canada – May 23,\n2025\n \n\n –\n \n\n TheNewswire\n-\n \n\n Vitalist Inc. (TSX-V: VITA) (“Vitalist” or\nthe “Company”), is pleased to announce that it has closed its\npreviously announced non-brokered private placement (the\n“Offering”), raising aggregate gross proceeds of $2,542,080\nthrough the issuance of 6,355,200 equity royalty units (each, a\n“Unit”) at a price of $0.40 per Unit.\n \n\n\n\n Private Placement of Equity Royalty\nUnits\n \n\n\n\n Each Unit consists of one common share of the Company\n(a “Share”), one common share purchase warrant of the Company (a\n“Warrant”), and one fractional royalty interest of the Company (a\n“Royalty Interest”). Each Warrant will entitle the holder to\npurchase one additional common share of the Company (a “Warrant\nShare”), at the Strike Price (as defined below), for a period of 24\nmonths following the closing of the Offering (the “Closing”). The\nterm “Strike Price” means the greater of (a) the market price of\nthe common shares of the Company on the TSX Venture Exchange\nimmediately following the Closing, and (b) $0.50. Each Royalty\nInterest will entitle the holder, for a period of 24 months following\nthe Closing, to its proportionate share of up to 5% of the aggregate\ngross receipts (excluding taxes and other governmental charges) from\nthe global sale or provision by the Company of smartwatches on the\nVitalOS ecosystem, less sales expenses and documented and\nsubstantiated ordinary course refunds and credits solely with respect\nto the return of smartwatches (“Net Sales”). For example, if an\ninvestor purchased 165,000 Units, for a total purchase price of\n$66,000, the investor will be entitled to 0.1% of Net Sales for two\nyears following the Closing.\n \n\n\n\n In connection with the Offering, the Company paid\ncertain eligible finders aggregate cash commissions of $42,208 and\nissued an aggregate of 105,520 Warrants.\n \n\n\n\n The net proceeds from the Offering are intended to be\nused for general corporate purposes and to advance the Compa...