AISIX Solutions Inc. Announces Closing of First-Tranche of Non-Brokered Private Placement

Core Viewpoint - AISIX Solutions Inc. has successfully closed the first tranche of its non-brokered private placement, raising approximately $1.3 million to support its growth initiatives and enhance its wildfire risk assessment and analytics solutions [1][2]. Group 1: Offering Details - The first tranche involved the issuance of 37,041,942 units at a price of $0.035 per unit, resulting in total proceeds of $1,296,468 [1]. - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the holder to acquire an additional common share at an exercise price of C$0.065 for two years [3]. - A finders' fee of $42,323.75 in cash and 1,209,250 non-transferrable finder warrants was paid in connection with the offering [4]. Group 2: Use of Proceeds - The gross proceeds from the offering will be allocated for working capital, sales and marketing infrastructure, potential acquisitions, product enhancement, and general corporate purposes [2]. Group 3: Management and Ownership - CEO Mihalis Belantis subscribed for 5,758,571 units, which is considered a related party transaction under Canadian regulations [5]. - Following the offering, Mr. Belantis' ownership increased to approximately 20.6% of the issued and outstanding common shares on a partially diluted basis [6]. Group 4: Company Overview - AISIX Solutions Inc. specializes in wildfire risk assessment and analytics, aiming to provide organizations with predictive insights to protect their assets from wildfire-related risks [7].