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TrustBIX Inc. Announces Conditional Acceptance by the TSX Venture Exchange and Completion of Initial Tranche of Private Placement

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TrustBIX Inc. (TSXV: TBIX) has received conditional acceptance from the TSX Venture Exchange for its non-brokered private placement announced on November 13, 2024. The company has completed the initial tranche, raising $55,800 through the issuance of 2,790,000 common shares at $0.02 per share. The total private placement aims to raise up to $100,000 through the issuance of up to 5,000,000 common shares.

Company insiders, including a director and an officer, participated in the placement, acquiring 640,000 common shares for $12,800. The transaction qualifies as exempt from formal valuation and minority shareholder approval requirements under MI 61-101. The proceeds will be used for working capital purposes.

TrustBIX Inc. (TSXV: TBIX) ha ricevuto l'accettazione condizionata dalla TSX Venture Exchange per il suo collocamento privato non intermediato annunciato il 13 novembre 2024. L'azienda ha completato la tranche iniziale, raccogliendo $55.800 tramite l'emissione di 2.790.000 azioni ordinarie a $0,02 per azione. L'obiettivo totale del collocamento privato è di raccogliere fino a $100.000 tramite l'emissione di fino a 5.000.000 azioni ordinarie.

I membri interni dell'azienda, incluso un direttore e un funzionario, hanno partecipato al collocamento, acquisendo 640.000 azioni ordinarie per $12.800. La transazione è esente dai requisiti di valutazione formale e di approvazione degli azionisti di minoranza secondo MI 61-101. I proventi saranno utilizzati per scopi di capitale circolante.

TrustBIX Inc. (TSXV: TBIX) ha recibido la aceptación condicional de la TSX Venture Exchange para su colocación privada no intermediada anunciada el 13 de noviembre de 2024. La compañía ha completado la tranche inicial, recaudando $55,800 mediante la emisión de 2,790,000 acciones ordinarias a $0.02 por acción. El colocación privada total tiene como objetivo recaudar hasta $100,000 mediante la emisión de hasta 5,000,000 acciones ordinarias.

Los miembros internos de la compañía, incluidos un director y un funcionario, participaron en el colocación, adquiriendo 640,000 acciones ordinarias por $12,800. La transacción califica como exenta de requisitos de valoración formal y de aprobación de accionistas minoritarios bajo MI 61-101. Los fondos se utilizarán para fines de capital de trabajo.

TrustBIX Inc. (TSXV: TBIX)는 2024년 11월 13일 발표된 비중개 프라이빗 플레이스먼트에 대해 TSX 벤처 거래소로부터 조건부 승인을 받았습니다. 회사는 $55,800를 모금하는 초기 트랜치가 완료되었으며, $0.02 주당 2,790,000주를 발행하였습니다. 전체 프라이빗 플레이스먼트 목표는 5,000,000주를 발행하여 최대 $100,000를 모금하는 것입니다.

회사 내부자, 즉 이사와 임원이 참여하여 $12,800에 640,000주의 보통주를 매입했습니다. 이 거래는 MI 61-101에 따라 공식 평가 및 소수주주 승인 요건에서 면제됩니다. 수익금은 운영 자본 용도로 사용될 예정입니다.

TrustBIX Inc. (TSXV: TBIX) a reçu une acceptation conditionnelle de la TSX Venture Exchange pour sa placement privé non intermédiaire annoncé le 13 novembre 2024. L'entreprise a complété la première tranche, levant 55 800 $ par l'émission de 2 790 000 actions ordinaires à 0,02 $ par action. Le placement privé total vise à lever jusqu'à 100 000 $ par l'émission de jusqu'à 5 000 000 actions ordinaires.

Des initiés de l'entreprise, y compris un directeur et un responsable, ont participé au placement, acquérant 640 000 actions ordinaires pour 12 800 $. La transaction est exemptée des exigences d'évaluation formelle et d'approbation des actionnaires minoritaires en vertu de la MI 61-101. Les fonds seront utilisés à des fins de fonds de roulement.

TrustBIX Inc. (TSXV: TBIX) hat von der TSX Venture Exchange eine bedingte Genehmigung für ihre nicht vermittelte Privatplatzierung erhalten, die am 13. November 2024 angekündigt wurde. Das Unternehmen hat die erste Tranche abgeschlossen und $55.800 durch die Ausgabe von 2.790.000 Stammaktien zu $0,02 pro Aktie eingenommen. Ziel der gesamten Privatplatzierung ist es, bis zu $100.000 durch die Ausgabe von bis zu 5.000.000 Stammaktien zu generieren.

Unternehmensinsider, darunter ein Direktor und ein Offizier, haben an der Platzierung teilgenommen und 640.000 Stammaktien für $12.800 erworben. Die Transaktion fällt unter die Ausnahme von formalen Bewertungs- und Genehmigungspflichten der Minderheitsaktionäre gemäß MI 61-101. Die Einnahmen werden für Betriebskapitalzwecke verwendet.

Positive
  • Secured conditional acceptance from TSX Venture Exchange for private placement
  • Successfully raised $55,800 in initial tranche
  • Insider participation demonstrates management confidence
Negative
  • Low share price of $0.02 indicates potential financial distress
  • Dilutive effect on existing shareholders
  • Small financing amount suggests working capital

Edmonton, Alberta--(Newsfile Corp. - December 5, 2024) - TrustBIX Inc. (TSXV: TBIX) ("TrustBIX" or the "Company") announces the non-brokered private placement (the "Private Placement"), previously announced on November 13, 2024 for up to 5,000,000 common shares of the Company ("Common Shares") at a price of $0.02 per Common Share for gross proceeds of up to $100,000, has received conditional acceptance by the TSX Venture Exchange (the "Exchange"). TrustBIX has closed on the initial tranche of subscriptions of 2,790,000 Common Shares for gross proceeds of $55,800.

The securities issued under the Private Placement are subject to a four-month and a day hold period from the time of closing of the Private Placement.

A director and an officer of the Company participated in the private placement; they acquired an aggregate total of 640,000 Common Shares for $12,800. The participation of these insiders in 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"). The board of directors of the Company determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 for the related party transaction, as neither the fair market value of securities issued to the insiders nor the consideration paid by the insiders exceeded 25 percent of the Company's market capitalization.

As the financing is below $0.05, the Company is relying on the minimum pricing exemption provided by the Exchange and is providing a brief description on the use of proceeds being raised. The proceeds will be used for ongoing working capital.

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

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 of accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232708

FAQ

What is the price per share for TrustBIX (TBIX) private placement announced on December 5, 2024?

The price per share for the private placement is $0.02 per common share.

How much did TrustBIX (TBIX) raise in the initial tranche of its private placement?

TrustBIX raised $55,800 through the issuance of 2,790,000 common shares in the initial tranche.

What is the total amount TrustBIX (TBIX) aims to raise in this private placement?

TrustBIX aims to raise up to $100,000 through the issuance of up to 5,000,000 common shares.

How many shares did TrustBIX (TBIX) insiders purchase in the private placement?

Company insiders, including a director and an officer, purchased 640,000 common shares for $12,800.

TRUSTBIX INC

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