Oracle Commodity Holding Closes Final Tranche Raising C$164K, Totals C$300K
Oracle Commodity Holding Corp raised $164,000 in its second and final non-brokered private placement of 3.28 million units at C$0.05 each, bringing total gross proceeds to $300,000. Director John Lee subscribed for 4.5 million units under related-party exemptions, and proceeds will fund working capital and general corporate purposes.
1. Private Placement Details
Oracle Commodity Holding Corp completed its second and final tranche of a non-brokered private placement, issuing 3.28 million units at C$0.05 per unit for gross proceeds of C$164,000. Each unit comprises one common share and one three-year warrant exercisable at C$0.06 per share, bringing combined financing to C$300,000.
2. Insider Participation and Exemptions
Director John Lee participated in the private placement for an aggregate 4.5 million units, triggering a related-party transaction. The company relied on exemptions from formal valuation and minority approval under MI 61-101 as the insider’s subscription did not exceed 25% of market capitalization.
3. Use of Proceeds and Next Steps
Proceeds will be used for working capital and general corporate purposes, with securities subject to a four-month plus one-day hold period. The closing remains conditional on final TSX Venture Exchange approvals and a material change report will be filed for the related-party transaction.