Nextech3D.ai Announces Closure of First Tranche Private Placement for $475,000

TORONTO, ON / ACCESSWIRE / September 25, 2024 / Nextech3D.AI (OTCQB:NEXCF)(CSE:NTAR)(FSE:1SS) announced the closure of the first tranche of its private placement, securing $475,000. The company issued 4,750,000 units at $0.10 per unit. These units include one common share and one share purchase warrant, exercisable at $0.15 for 24 months, with potential acceleration if trading prices exceed $0.30 for ten consecutive days.

The net proceeds will be used for working capital and general corporate purposes. A finder's fee of 8% and broker warrants have been paid to eligible registrants, enabling them to acquire shares at $0.15 for 24 months.

The offering is subject to regulatory approvals, including from the Canadian Securities Exchange. The securities are not registered under the U.S. Securities Act of 1933 and cannot be sold in the U.S. without registration or an applicable exemption.