Shelfie-Tech Announces Private Placement
Rhea-AI Summary
Shelfie-Tech (OTCQB: SHLFF) plans to close a non-brokered private placement on or around June 17, 2026. The company aims to issue up to 4,615,385 shares at CAD$1.78, raising gross proceeds of up to CAD$8,215,000 for sales, marketing, R&D and working capital.
A participant with a common director is expected to subscribe for US$2,500,000, making the deal a related party transaction under MI 61-101, though exemptions from valuation and minority approval are used. New shares carry a four-month hold period.
Positive
- Up to CAD$8,215,000 in gross proceeds from the private placement
- Issue price set at CAD$1.78 per common share
- Expected insider-related subscription of US$2,500,000 in the placement
- Proceeds allocated to sales, marketing, R&D and working capital
Negative
- Potential issuance of up to 4,615,385 new shares dilutes existing holders
- Newly issued securities subject to a four-month hold period
- Private placement categorized as a related party transaction under MI 61-101
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO, ON / ACCESS Newswire / June 10, 2026 / Shelfie-Tech Ltd. (CSE:SHLF)(OTCQB:SHLFF) ("Shelfie" or the "Company") announces its intention to close on or around June 17, 2026 its non-brokered private placement (the "Private Placement") of up to 4,615,385 common shares of the Company ("Shares") at a price of CAD
The proceeds from the Private Placement will be used to for sales and marketing, expanding the companies client base, R&D and working capital purposes. The securities issued will be subject to a four-month hold period.
Bentsur Joseph, CEO of the Company, stated: "We are very pleased with the expected result of this financing, and the demand from the market."
The Private Placement constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") because a company that is expected to participate in the Private Placement and is expected to acquire the number of Common Shares as is equal to US
Contacts:
Bentsur Joseph
CEO
bentsur@shelfietech.com
Disclaimers
The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" within the meaning of the securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will be issued as a result of a pending patent application or, if issued, whether it will be issued in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time at sedarplus.ca. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect on actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third-party websites.
SOURCE: Shelfie-Tech Ltd.
View the original press release on ACCESS Newswire