Oracle Commodity Holding Raises $136,000 in First Tranche of Private Placement
Oracle Commodity Holding Corp closed the first tranche of its non-brokered private placement, raising $136,000 through the sale of 2.72 million units at $0.05 each. A director bought 1.22 million units and the placement includes warrants exercisable at $0.06 for three years, with a second tranche due April 10.
1. Private Placement Details
Oracle Commodity Holding closed the first tranche of its non-brokered private placement, issuing 2.72 million units at $0.05 each to raise $136,000. Each unit includes one common share and one warrant exercisable at $0.06 per share for three years.
2. Insider Participation and Regulatory Filings
A director acquired 1.22 million units in a related-party transaction under MI 61-101 exemptions, triggering a material change report. The insider may increase its subscription to 4.5 million units for gross proceeds of up to $225,000, subject to regulatory approval.
3. Use of Proceeds and Next Steps
Proceeds are earmarked for working capital and general corporate purposes, with securities subject to a four-month plus one-day hold period and no finder's fees. The second and final tranche is expected to close around April 10, pending TSXV approval.