Goat Industries Announces Closing Of First Tranche Of Private Placement

Core Points - GOAT Industries Ltd. has completed the first tranche of a non-brokered private placement, raising gross proceeds of C$2,019,199.80 through the sale of 6,730,666 units at C$0.30 per unit [1][2] - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of an additional share at $0.45 for two years [2] - The net proceeds will be used for the acquisition of 1509467 B.C. Ltd. and Vroom, Inc. (collectively "BETSource"), to expand BETSource's business, for future investments, and for general corporate purposes [3] Financial Details - The company paid finder's fees totaling C$99,414.00 and issued 331,380 broker warrants, each allowing the acquisition of half a common share at C$0.45 for two years [4] - An insider acquired 66,666 units in settlement of management fees totaling C$10,020, which is classified as a related party transaction [4] Regulatory Information - All securities issued under the offering are subject to a statutory hold period of four months and one day from the date of issuance [5] - The company is exempt from formal valuation and minority shareholder approval requirements under MI 61-101, as the fair market value of the securities issued did not exceed 25% of the company's market capitalization [4] Company Overview - GOAT Industries Ltd. is focused on investing in high-potential companies across various industries, aiming to generate maximum returns from its investments [6]