Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) has announced a non-brokered private placement targeting gross proceeds of up to C$3,500,000, alongside proposed shares-for-debt settlements of up to C$2,000,000. The dual-track capital initiative aims to retire existing debt and bolster the company's working capital position. Investors in the Technology-as-a-Service provider will be watching closely as the offering is anticipated to close on or around October 30, 2026.

Key Points

  • Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) is a global Technology-as-a-Service provider
  • The company proposes a non-brokered private placement of up to 116,700,000 units at C$0.03 per unit, seeking gross proceeds of up to C$3,500,000
  • A separate shares-for-debt program will issue up to 66,700,000 units to settle up to C$2,000,000 in outstanding trade payables; units subject to a four-month-and-one-day hold period
  • Investors should watch for TSXV regulatory approval and confirmation of insider participation, to be announced at a later date

Structure of TTGI's Non-Brokered Private Placement Units

Each unit offered under the placement consists of one common share and one common share purchase warrant. The warrants carry an exercise price of C$0.05 per share and remain valid for three years from the date of issuance. All securities issued under the offering will be subject to a hold period of four months plus one day. The company may pay eligible finders fees of up to 7% in cash and 7% in finders' warrants. The offering may close in multiple tranches and is subject to final TSXV approval.

How Proceeds Will Be Deployed Across Debt Retirement and Growth

TTGI states that net proceeds from the offering are earmarked to retire certain existing debt facilities, with the remainder directed toward working capital supporting cost-cutting measures, strategic partnerships, and sales and marketing initiatives. Insiders may participate in the offering, and details of any such participation will be disclosed separately as applicable. The company did not provide a precise breakdown of the allocation between debt repayment and operational spending in the announcement.

Shares-for-Debt Settlements Aimed at Preserving Cash Reserves

Separately, TTGI intends to enter into agreements with certain creditors to settle up to C$2,000,000 in outstanding trade payables and indebtedness by issuing up to 66,700,000 units at a deemed price of C$0.03 per unit — the same terms as the private placement units. The company characterises the debt settlements as a prudent measure to preserve cash reserves and improve its working capital position. Completion remains subject to all applicable regulatory approvals, including final acceptance by the TSXV, and the issued units will carry a four-month-and-one-day hold period.