- Spetz Inc. (CSE: SPTZ) (OTC: DBKSF) successfully closes first tranche of $10M private placement.
- $7.35 million raised through issuance of 14.7 million units at $0.50 each.
- Funds to enhance blockchain infrastructure and expand validator network.
Spetz Inc. (CSE: SPTZ) (OTC: DBKSF), a technology company specializing in AI and blockchain solutions, has announced the closing of the first tranche of its non-brokered private placement, generating $7.35 million. This capital was raised through the issuance of 14.7 million units at $0.50 per unit. Each unit comprises one common share and half of a warrant, with each whole warrant allowing the purchase of an additional share at $0.75 for a period of 24 months.
The company has outlined that the proceeds will be directed towards working capital, the expansion of validator infrastructure, and growth initiatives within the blockchain sector. The placement attracted notable investments from entities such as Canaccord Genuity Financial, Russell Star, Haywood Securities, and Sonic Labs.
Spetz anticipates conducting additional closings by June 23, 2025, potentially raising an extra $2.65 million. In connection with this private placement, Spetz has paid $315,812 in cash commissions and issued 719,524 finder's warrants to seven securities dealers. Michael Kron, a director of Spetz, participated by purchasing 100,000 units, a move that underscores management's confidence in the company's future direction.
