Edmonton-based agricultural technology company TrustBIX Inc. (TSXV: TBIX) announced on November 13, 2026 the closing of its previously announced non-brokered private placement, raising gross proceeds of $227,000 through the issuance of 22,700,000 units priced at $0.01 each. The transaction, first announced on July 9, 2026 and extended multiple times, is subject to final acceptance by the TSX Venture Exchange. Proceeds are earmarked for general working capital, product development, commercialization, potential acquisitions, inventory procurement, and debt repayment.

Key Points

  • TrustBIX Inc. (TSXV: TBIX) — Edmonton-based agricultural technology company
  • Closed a non-brokered private placement raising $227,000 via 22,700,000 units at $0.01 per unit
  • Each unit includes one common share and one warrant exercisable at $0.05 for two years; warrants may be accelerated if shares trade at or above $0.10 for 20 consecutive trading days
  • Investors may watch for TSX Venture Exchange final acceptance and how proceeds support product development and commercialization

Unit Structure and Warrant Acceleration Terms

Each unit issued under the placement consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of two years from closing. The company retains the right to accelerate warrant expiry if the closing price of its common shares equals or exceeds $0.10 for 20 consecutive trading days. Should acceleration be triggered, holders would have 30 days from the date of the company's press release announcing that right before the warrants expire.

Use of Proceeds and Hold Period

TrustBIX stated that proceeds will be directed toward general working capital needs, including product development and commercialization activities, potential strategic acquisitions, inventory procurement to support operations, and repayment of existing debt. All securities issued under the placement carry a four-month and one-day statutory hold period from the closing date. The company disclosed that no finder's fees or other compensation were paid in connection with this transaction.

Director Participation and Related Party Disclosure

A director of the company participated in the placement, acquiring 500,000 common shares for $5,000. The release states this constitutes a related party transaction under Multilateral Instrument 61-101. The board determined the transaction qualified for exemptions from formal valuation and minority shareholder approval requirements, as neither the fair market value of securities issued to insiders nor the consideration paid exceeded 25 percent of the company's market capitalisation. Additionally, Summerhill Investment Corporation became an insider upon closing, holding 12.10% of TrustBIX's common shares.