Miivo Announces Closing of Private Placement Financing for Gross Proceeds of $4.4 Million

Core Viewpoint - Miivo Holdings Corp. has successfully closed a non-brokered private placement financing of CAD 4.4 million, increasing the offering due to high demand, which will be used to market its AI-powered CFO platform and for general working capital [1][3]. Group 1: Financing Details - The offering consisted of 8,800,000 units sold at CAD 0.50 per unit, with an increase of 800,000 units or CAD 400,000 due to investor interest [1]. - Each unit includes one common share and one-half of a non-transferrable common share purchase warrant, allowing the purchase of additional shares at CAD 0.75 until July 30, 2027 [2]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated to marketing the AI CFO platform in various countries and for general working capital purposes [3]. Group 3: Insider Participation and Fees - Certain insiders participated in the offering, which is classified as a related party transaction, and the company relied on exemptions from formal valuation and minority shareholder approval requirements [4]. - The company will pay cash commissions of CAD 201,600 and issue 403,200 finder's warrants, both representing 7% of the proceeds and units issued [5]. Group 4: Securities and Regulations - All securities issued will be subject to a hold period expiring on May 31, 2026, in accordance with exchange rules and Canadian securities laws [6]. - The securities will not be registered under U.S. securities laws and cannot be offered or sold in the U.S. without proper registration or exemption [7]. Group 5: Company Overview - Miivo is focused on transforming financial intelligence access for small and medium-sized enterprises (SMEs) through its AI CFO platform, which aims to enhance operational efficiency and financial performance [8].