Core Points - BuildDirect.com Technologies Inc. announced a non-brokered private placement of common shares, aiming to raise up to approximately $7 million by offering up to 6,100,000 common shares at a price of $1.15 each [2][4] - The net proceeds from the offering will be utilized to advance the company's growth strategy and for general working capital purposes [2] - The closing of the offering is subject to approval from the TSX Venture Exchange, and no finder's fee will be paid in connection with this financing [3] Shareholder Participation - The three largest shareholders, Pelecanus Investments Ltd., Lyra Growth Partners Inc., and Beedie Investments Ltd., will participate in the offering, which is classified as a related party transaction [4] - The company is exempt from formal valuation and minority approval requirements under Multilateral Instrument 61-101, as the insiders' participation will not exceed 25% of the company's market capitalization [4] Regulatory Information - The securities issued in the private placement will not be registered under the United States Securities Act of 1933 and cannot be offered or sold in the U.S. without registration or an applicable exemption [5] - The TSX Venture Exchange and its Regulation Services Provider do not accept responsibility for the adequacy or accuracy of the release [6] Company Overview - BuildDirect is an expanding omnichannel building materials retailer, focusing on Pro Centers that serve professional contractors and trades [7] - The company is scaling its operations through organic growth and strategic acquisitions, aiming to enhance efficiency and market expansion [7]
BuildDirect Announces Non-Brokered Private Placement of up to $7 million
Newsfileยท2025-07-18 21:30