Business
Predictiv AI looks to raise $0.25M in a private placement, announces debt settlement agree
- Predictiv AI (OTC:INOTF) said it is looking to raise capital by conducting a non-brokered private placement consisting of up to 12.5 million common share units to be issued for $0.02 per unit, for gross proceeds of up to $0.25 million.
- Each unit will consist of one common share of Predictive AI and one purchase warrant.
- Each warrant will entitle the holder to acquire one additional share of the company at an exercise price of $0.05 per share for 24 months from the date of issuance.
- In addition, the company has entered into debt settlement agreements with certain company officers, directors, and consultants, converting $0.5 million in payables into common shares.
- The company plans to issue 25 million settlement shares at a $0.02 per share price to preserve working capital to fund operations.
- The settlement of the payables has been approved by all of the directors of the company and will be subject to a four-month and one-day hold period from the date of issuance.
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