on NexOptic Technology Corp. (isin : CA65341P1053)
NexOptic Technology Corp. Plans Private Placement for AI Advancements
NexOptic Technology Corp., based in Vancouver, announced a non-brokered private placement to raise up to $1 million. The offering involves issuing 28,571,428 units priced at $0.035 each, with each unit comprising one common share and a warrant. These warrants, priced at $0.05, are exercisable for 18 months. The company may accelerate the warrant term if its share price exceeds $0.12.
The proceeds will fund AI data compression, video resolution projects, medical imaging software, and marketing efforts. NexOptic is streamlining operations by ending several third-party affiliations and closing its Korean subsidiary. Future plans involve enhancing its FDA-approved imaging device and NexCompress AI software.
Regulatory approvals are pending, and insiders are expected to participate in the offering. The participation is exempt from certain regulatory requirements. The net proceeds will be used for general corporate purposes, excluding payments to Non-Arm's Length Parties. The offering may close in multiple tranches.
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