Trenchant Announces Closing of Non-Brokered Private Placement

Rhea-AI Summary

Trenchant Technologies Capital Corp. (CSE: AITT, OTC: AITTF) has closed its non-brokered private placement financing, generating $100,000 in gross proceeds. The company issued 400,000 units, each comprising one common share and one purchase warrant, allowing the holder to acquire an additional share at $0.50 within two years. The funds raised will be allocated to general working capital purposes. Securities from the offering are subject to a hold period of four months and one day.

Positive

• Raised $100,000 through a private placement.
• Issued 400,000 units, each comprising a share and a warrant.
• Warrants allow purchase of shares at $0.50 within two years.

Negative

• Securities are subject to a four-month and one-day hold period.

Vancouver, British Columbia--(Newsfile Corp. - June 20, 2024) - Trenchant Technologies Capital Corp. (CSE: AITT) (OTC: AITTF) ("Trenchant" or the "Company") announces that, further to its News Release of June 12, 2024, it has completed its non-brokered private placement financing (the "Offering"), pursuant to which it has issued 400,000 units (each, a "Unit") for gross proceeds of $100,000. Each Unit consists of one common share (each, a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share (each, a "Warrant Share") at a price of $0.50 per Warrant Share for a period of two years following closing. Proceeds of the Offering will be used for general working capital purposes.

The securities issued in connection with the Offering, and the Shares that may be issuable on exercise of the warrants, are subject to a statutory hold period expiring four months and one day after closing of the Offering.

ON BEHALF OF THE BOARD
TRENCHANT TECHNOLOGIES CAPITAL CORP.

Per: "Eric Boehnke"
Eric Boehnke, CEO

For further information, please contact:
Trenchant Capital Corp.
Eric Boehnke, CEO
Phone: (604) 307-4274

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213772

FAQ

What recent financing has Trenchant Technologies Capital Corp. (AITTF) completed?

Trenchant Technologies Capital Corp. (AITTF) has completed a non-brokered private placement financing, raising $100,000.

How much did Trenchant Technologies Capital Corp. (AITTF) raise in its recent private placement?

Trenchant Technologies Capital Corp. (AITTF) raised $100,000 in its recent non-brokered private placement.

What does each unit issued by Trenchant Technologies Capital Corp. (AITTF) consist of?

Each unit issued by Trenchant Technologies Capital Corp. (AITTF) consists of one common share and one share purchase warrant.

At what price can the warrants issued by Trenchant Technologies Capital Corp. (AITTF) be exercised?

The warrants can be exercised at a price of $0.50 per share.

What is the hold period for the securities issued by Trenchant Technologies Capital Corp. (AITTF) in the private placement?

The securities are subject to a statutory hold period of four months and one day.