ProStar Holdings Announces Upsize and Closing of Non-Brokered Private Placement For Gross Proceeds of $775,000

Core Viewpoint - ProStar Holdings Inc. has successfully closed a non-brokered private placement, raising gross proceeds of C$775,000 through the sale of 5,535,714 units at a price of C$0.14 per unit, with plans to use the funds to enhance sales and marketing efforts and for general working capital [1][3][4]. Group 1: Offering Details - The Offering consists of units, each comprising one common share and one warrant, with each warrant allowing the purchase of one common share at C$0.20 for 36 months [2]. - The Offering was increased from an initial target of C$750,000 to C$775,000, receiving approval from the TSX Venture Exchange [1]. - The securities issued in the Offering are subject to a hold period of four months and one day from the date of issuance [6]. Group 2: Use of Proceeds - ProStar plans to utilize the proceeds from the Offering to onboard resources aimed at ramping up sales and marketing efforts, as well as for general working capital requirements [3][4]. Group 3: Management and Participation - The CEO and Founder of ProStar expressed satisfaction with the financing, highlighting strong participation from board members and existing shareholders [4]. - Certain directors and senior officers purchased a total of 2,085,714 units as part of the Offering, which is classified as a related party transaction [5]. Group 4: Company Overview - ProStar is recognized as a leader in Precision Mapping Solutions, focusing on critical infrastructure management through its flagship product, PointMan [9][10]. - The company has developed a significant intellectual property portfolio, including 16 issued patents in the United States and Canada, aimed at enhancing the management of critical infrastructure assets [10].