Business
Ynvisible Announces Closing of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2025) - Ynvisible Interactive Inc. ...
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"Ynvisible Announces Closing of Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - June 27, 2025) - Ynvisible Interactive Inc. (TSXV: YNV) (FSE: 1XNA) (the \"Company\" or \"Ynvisible\") announces that it has now closed its non-brokered private placement financing originally announced May 16, 2025, with respect to its offering of common shares of the Company (the \"Shares\", and each, a \"Share\") at a price of $0.22 per Share (the \"Offering\"). The Shares were offered for sale in accordance with applicable regulatory requirements, including National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\") to purchasers resident in Canada (except Quebec) and/or other qualifying jurisdictions, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, (the \"LIFE Exemption\"). Under the Offering, the Company issued a total of 11,481,637 Shares to raise gross proceeds of $2,525,960.14. Net proceeds will be used to fund general and administrative needs, to accelerate sales and marketing, scale operations to deliver existing and future customer orders, invest in product innovation, and raise enterprise value.A director of the Company (the \"Insider\") participated in the Offering for a total of 100,000 Shares. Such participation by the Insider constitutes a \"related party transaction\" for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in completing the Offering with the Insider, on the basis that the fair market value of the Shares purchased by the Insider, and the consideration for the Shares paid by the Insider, is less than 25% of the Company's current market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances in order to complete the Offering in an expeditious manner. The Shares issued by Ynvisible to the Insider pursuant to the Offering, are subject to an Exchange Hold Period (as such term is defined in the policies of the TSX Venture Exchange) expiring September 27, 2025, being four months and one day fr...