NowVertical Group Inc. (TSXV: NOW), a Toronto-based data, analytics, and AI company, has announced the permanent appointment of Andre Garber as Chief Executive Officer and a brokered private placement targeting gross proceeds of up to $15,100,000. Garber, who has served as Interim CEO since June 2026, was confirmed in the permanent role following a formal executive search. The financing, led by Toronto-based family office group VRG Capital, is intended to strengthen NowVertical's balance sheet and support its growth strategy.

Key Points

  • NowVertical Group Inc. (TSXV: NOW) announced a CEO appointment and a major capital raise on October 6, 2026.
  • Andre Garber confirmed as permanent CEO, transitioning from the Interim CEO role he has held since June 2026.
  • Brokered private placement of up to $15,100,000, comprising up to $5,100,000 in units at $0.12 per unit and up to $10,000,000 in convertible debenture units; closing expected on or about October 15, 2026.
  • Investors may be watching for TSXV approval and confirmation of closing on the anticipated terms.

Andre Garber Transitions from Interim to Permanent CEO at NowVertical

NowVertical's board of directors confirmed Garber as Chief Executive Officer after conducting a formal executive search. The board cited his performance as Interim CEO, his prior role as Chief Development Officer, and his in-depth knowledge of the company's business and operations as key factors in the decision. The announcement states the board determined Garber is "uniquely positioned" to lead the company. The immediate share price impact was not clear from available public information.

Structure of the Up to $15.1 Million Private Placement

The offering, conducted on a "best efforts" basis through sole agent Clarus Securities Inc., comprises two tranches. Up to 42,500,000 units are being offered at $0.12 each, with each unit including one common share and one half of one warrant exercisable at $0.20 for 24 months. Up to 10,000 convertible debenture units are priced at $1,000 each, carrying a 10% coupon, maturing 36 months from closing, and convertible into common shares at $0.20. Each convertible debenture unit also includes 2,500 warrants exercisable at $0.25 for 36 months.

VRG Capital Leads the Financing as Anchor Investor

VRG Capital, described in the release as a Toronto-based group of family offices, will serve as lead investor in the offering. Board Chair Elaine Kunda stated the company sought long-term investors able to bring both capital and experience, identifying VRG Capital and its associates as fitting that profile. Kingsley Ward of VRG Capital is quoted in the release expressing confidence in Garber's leadership team. Net proceeds are intended for balance sheet strengthening, growth strategy execution, working capital, and general corporate purposes.