Perk Labs Inc. Completes Non-Brokered Private Placements

Perk Labs Inc., listed on CSE, OTC PINK, and FRA, successfully finalized its non-brokered private placements involving units and convertible debentures. The company issued 78,900,000 units at $0.01 each, totaling CAD $789,000. Each unit includes a common share and a warrant, which allows purchasing an additional share at $0.05 within two years.

Additionally, Perk Labs reported the closing of a separate placement of convertible debentures amounting to $25,000. These debentures, maturing in two years, carry an interest rate of 15% annually and can be converted into common shares at $0.05 each.

The offerings are subject to a statutory hold of four months and a day. Funds raised are designated for general working capital, accounts payable, and employee salaries.

During this transaction, B. Rogic, a related party, acquired $73,000 worth of units, which Perk Labs identified as a "related party transaction" under MI 61-101. Nevertheless, the company met the exemptions of MI 61-101 concerning formal valuation and minority approval.