Hypercharge Announces Closing of Brokered LIFE Offering of Units for Gross Proceeds of $3,750,000

Core Viewpoint - Hypercharge Networks Corp. has successfully closed a brokered private placement offering, raising gross proceeds of $3,750,000 to support its operations in the electric vehicle charging solutions sector [1][2]. Group 1: Offering Details - The private placement offering was conducted on a "best efforts" basis at a price of $0.10 per unit, resulting in the issuance of 37,500,000 units [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 common share at $0.12 for two years [3]. - The offering was made under the "listed issuer financing exemption" and the securities issued are freely tradable without a statutory hold period [4]. Group 2: Insider Participation - Insiders Tony Geheran and Jason Baybutt subscribed for 5,000,000 and 150,000 units respectively, totaling $500,000 and $15,000 in gross proceeds [5]. - The subscriptions by insiders are classified as a "related party transaction," and the company is relying on exemptions from formal valuation and minority shareholder approval requirements [5]. Group 3: Use of Proceeds - The net proceeds from the offering will be allocated for general working capital and corporate purposes [6]. Group 4: Agent Compensation - The company paid a cash commission of 6.0% of the gross proceeds to the agent and issued broker warrants equal to 6% of the units sold, with specific reductions for certain subscribers [7]. Group 5: Company Overview - Hypercharge Networks Corp. is a leading provider of smart electric vehicle charging solutions, aiming to accelerate EV adoption and support the transition to a carbon-neutral economy [9].