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TrustBIX Inc. Announces Closing of Previously Announced Private Placement
Newsfile· 2025-09-02 23:30
Core Points - TrustBIX Inc. has successfully closed a non-brokered private placement, issuing 10,000,000 units at a price of $0.04 per unit, resulting in gross proceeds of $400,000, pending final acceptance by the TSX Venture Exchange [1][3] Group 1: Private Placement Details - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at $0.08 for two years [2] - If the closing price of common shares reaches or exceeds $0.12 for twenty consecutive trading days, TrustBIX can accelerate the expiry date of the warrants [2] - The proceeds from the private placement will be used for general working capital, including acquiring inventory to support ongoing operations [3] Group 2: Regulatory and Compliance Information - The securities issued are subject to a statutory hold period of four months and one day following the closing [3] - No finder's fees or other compensation were paid in connection with the private placement, and the shares were sold under prospectus exemptions [3] Group 3: Company Overview - TrustBIX is an agricultural technology company focused on providing Gate to Plate® solutions aimed at enhancing trust, reducing waste, and promoting sustainable practices within the agri-food sector [4]
TrustBIX Inc. Announces June 30, 2025 Third Quarter Financial Results
Newsfile· 2025-08-26 02:00
Core Insights - TrustBIX Inc. reported its third quarter financial results for the period ending June 30, 2025, highlighting a focus on managing operating costs while pursuing new business opportunities in Alberta's food security sector [2][3] - The company experienced a significant decrease in revenue from its ViewTrak team compared to the previous year, while the Alberta Food Security team secured new orders for indoor farming technology [3] - Initial deliveries for 2024 orders began in June 2025, with the first installation expected to be completed by September 2025 [3] Financial Performance Three Months Ended June 30, 2025 - Net loss and comprehensive loss amounted to $255,984, an increase of $246,211 from $9,773 in 2024 [5] - Cash provided by operating activities was $31,780, an improvement of $13,142 (70.5%) from $18,638 in 2024 [5] - Revenue totaled $324,545, down $223,224 (40.8%) from $547,769 in 2024 [5] - Operating expenses were $547,111, up $20,679 (3.9%) from $526,432 in 2024 [5] Nine Months Ended June 30, 2025 - Net loss and comprehensive loss reached $493,628, an increase of $21,920 from $471,708 in 2024 [5] - Cash used in operating activities was $24,236, an improvement of $50,551 (67.6%) from $74,787 in 2024 [5] - Revenue for the period was $1,021,778, down $163,951 (13.8%) from $1,185,729 in 2024 [5] - Operating expenses totaled $1,431,056, improved by $134,611 (8.6%) from $1,565,667 in 2024 [5]
TrustBIX Inc. Announces Extension to Private Placement
Newsfile· 2025-08-20 20:35
Core Points - TrustBIX Inc. has announced an extension for its non-brokered private placement, allowing it to complete the offering by September 2, 2025, with a maximum of 10,000,000 units priced at $0.04 each, aiming for gross proceeds of up to $400,000 [1][2]. Group 1: Private Placement Details - Each unit consists of one common share and one warrant, with the warrant allowing the purchase of an additional common share at $0.08 for two years [3]. - If the closing price of the common shares exceeds $0.12 for 20 consecutive trading days, TrustBIX can accelerate the expiry date of the warrants [3]. - The proceeds from the private placement will be utilized for general working capital, including inventory acquisition to support ongoing operations [4]. Group 2: Regulatory and Compliance Information - The common shares will be sold under prospectus exemptions available under National Instrument 45-106, targeting accredited investors, employees, executives, directors, consultants, and existing security holders [5]. - The securities issued will be subject to a statutory hold period of four months and one day following the closing of the private placement [4]. Group 3: Company Overview - TrustBIX is an agricultural technology company focused on providing Gate to Plate® solutions aimed at enhancing trust, reducing waste, and promoting sustainable practices within the agri-food sector [6].
TrustBIX Inc. Announces the Results of Its Annual General Meeting of Shareholders
Newsfile· 2025-07-18 21:30
Core Points - TrustBIX Inc. held its Annual General Meeting on July 17, 2025, where all matters outlined in the Notice of Meeting were approved by shareholders [2][6] - Shareholders voted to fix the number of directors at five and elected five individuals as directors [6] - The company re-appointed its auditors for the upcoming year and authorized the directors to determine their remuneration [6] Company Overview - TrustBIX is an agricultural technology company that provides Gate to Plate® solutions aimed at promoting trust, reducing waste, and rewarding sustainable practices [4] - The company offers award-winning technologies that are utilized by both local and international agri-food organizations [4]