TrustBIX Inc. Announces Private Placement

Rhea-AI Summary

TrustBIX Inc. (TSXV: TBIX) has announced a non-brokered private placement of up to 5,000,000 common shares at $0.02 per share, aiming to raise gross proceeds of up to $100,000. The proceeds will be used for general working capital. The shares will be subject to a four-month and one-day statutory hold period following the closing date. The placement will be conducted under National Instrument 45-106 exemptions for accredited investors, employees, executive officers, directors, consultants, and existing security holders.

Positive

• Securing additional working capital through private placement

Negative

• Potential dilution of existing shareholders through issuance of 5 million new shares
• Low share price of $0.02 indicates challenging market conditions
• Small financing amount of $100,000 suggests funding capacity

News Market Reaction

-82.32%

1 alert

-82.32% News Effect

On the day this news was published, TBIXF declined 82.32%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Edmonton, Alberta--(Newsfile Corp. - November 13, 2024) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX" or the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") of up to 5,000,000 common shares ("Common Shares") at a price of $0.02 per Common Share for gross proceeds of up to $100,000, subject to TSX Venture Exchange (the "Exchange") and other regulatory approvals. The Company intends to use the proceeds from the Private Placement for general working capital.

The Common Shares 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 date. 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. Our award-winning technologies offer practical tools trusted by local and international agri-food organizations.

www.TrustBIX.com

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 of accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229859

FAQ

What is the price per share in TrustBIX's (TBIX) November 2024 private placement?

TrustBIX is offering common shares at $0.02 per share in the November 2024 private placement.

How much money is TrustBIX (TBIX) raising in their latest private placement?

TrustBIX aims to raise gross proceeds of up to $100,000 through the private placement of 5,000,000 common shares.

What is the hold period for TrustBIX (TBIX) shares from the private placement?

The common shares issued in the private placement will have a statutory hold period of four months and one day following the closing date.