TrustBix Inc. Announces Further Extension to Private Placement
TrustBIX secures more time to close a small equity financing that could raise up to $500,000 at a $0.01 unit price.
Rhea-AI Summary
TrustBIX (TBIXF) received a further TSX Venture Exchange extension to complete its non-brokered private placement of up to 50,000,000 units at $0.01 each, now by October 22, 2026.
The offering targets gross proceeds of up to $500,000 and remains subject to final TSXV and regulatory approvals. Each unit includes one common share and one warrant, with each warrant exercisable at $0.05 for two years after closing. Warrants may be accelerated if the share price reaches or exceeds $0.10 for 20 consecutive trading days, shortening expiry to 30 days after an acceleration press release. The company plans to use proceeds for working capital, including product development, commercialization, potential acquisitions, inventory, and debt repayment. Securities will carry a four-month-and-one-day hold period.
Positive
- Private placement up to $500,000 at $0.01 per unit to fund working capital and growth uses
- Two-year $0.05 warrants attached to each unit provide potential additional future capital inflow
Negative
- Up to 50,000,000 new units at $0.01 imply substantial potential equity dilution for existing shareholders
AI-generated analysis. How Rhea-AI works. Not financial advice.
Edmonton, Alberta--(Newsfile Corp. - September 22, 2026) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX" or the "Company") announces that the Company has been granted a further extension by the TSX Venture Exchange ("TSXV") to complete the non-brokered private placement, as previously announced on July 9, 2026 and August 25, 2026 (the "Private Placement"), of up to 50,000,000 units ("Units") at a price of
The Private Placement remains subject to the final acceptance of the TSXV and all regulatory approvals.
Details of this Private Placement:
Each Unit is comprised of one (1) common share in the capital of TrustBIX ("Common Share") and one (1) Common Share purchase warrant ("Warrant"), whereby each Warrant entitles the holder to purchase one (1) Common Share at a price of
The proceeds will be used for general working capital purposes, including, but not limited to, funding product development and commercialization, potential strategic acquisitions of companies, inventory procurement to support growth and operations, and repayment of debt.
The securities to be issued pursuant to the Private Placement will be subject to a statutory hold period lasting four (4) months and one (1) day following the closing of the Private Placement.
The Common Shares issued under the Private Placement will be sold to investors pursuant to prospectus
exemptions available under National Instrument 45-106, including exemptions for: accredited investor, employee, executive officer, director and consultant, and existing security holders.
About TrustBIX (TSXV: TBIX)
TrustBIX is an agricultural technology company providing Gate to Plate® solutions to create a world where we trust more, waste less, and reward sustainable practices.
Forward-Looking Information
This press release contains certain forward-looking information and reflects the Company's present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words "may", "would", "could", "should", "will", "intend", "plan", "propose", "anticipate", "believe", "forecast", "estimate", "expect" and similar expressions used by any of the Company's management, are intended to identify forward-looking statements. Such statements reflect the Company's internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company's current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: info@trustbix.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315507
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What are the terms of the units offered in TrustBIX's private placement?
Each unit consists of one common share and one common share purchase warrant. Each warrant allows the holder to buy one additional common share at an exercise price of $0.05 for a period of two years from the closing date of the private placement.
Under what conditions can TrustBIX accelerate the expiry of the warrants?
If the closing price of TrustBIX common shares on the principal market is $0.10 or higher for 20 consecutive trading days, the company may accelerate warrant expiry. In that case, the new expiry date will be 30 days after TrustBIX issues a press release announcing it has exercised this acceleration right.
How will TrustBIX use the proceeds from the private placement?
The company plans to use proceeds for general working capital, including funding product development and commercialization, potential strategic acquisitions of companies, inventory procurement to support growth and operations, and repayment of debt.
What resale restrictions apply to the securities issued in the private placement?
The securities issued under the private placement will be subject to a statutory hold period of four months and one day following the closing date, during which they cannot be freely traded.