BeWhere Holdings Inc. Announces Closing of its C$5.0 Million Brokered LIFE Offering, Including Full Exercise of Over-Allotment Option

Core Viewpoint - BeWhere Holdings Inc. has successfully closed a brokered private placement, raising gross proceeds of C$5,005,000 through the issuance of 7,150,000 common shares at a price of C$0.70 per share [1][3]. Group 1: Offering Details - The private placement was conducted with Canaccord Genuity Corp. as the lead agent, and included an over-allotment option exercised in full by the agents, resulting in the issuance of an additional 1,430,000 common shares [1]. - The offering was completed under the "listed issuer financing" exemption, allowing the company to avoid certain prospectus requirements in Canada, excluding Québec [2]. - The net proceeds from the offering will be utilized to expand the equipment rental business, fund European expansion, and for working capital and general corporate purposes [3]. Group 2: Financial Arrangements - The company paid the agents a cash commission of C$300,300 and issued 429,000 non-transferable warrants to the agents, exercisable within 36 months at the issue price [4]. Group 3: Company Overview - BeWhere specializes in low-power 5G IoT wide-area tracking technology, providing remote monitoring solutions that address cost, power, and environmental challenges [5]. - The company has experienced rapid growth over the past six years, collaborating with Fortune 500 companies and deploying hundreds of thousands of trackers across various sectors, including transportation, construction, logistics, utilities, health, and government [5][6]. - BeWhere's tracking solutions are designed to be cost-effective and easy to implement, enhancing the capabilities and growth potential of AI solutions through increased connectivity of devices [6].