EDMONTON, AB, Oct. 7, 2025 /CNW/ – Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce the completion of the first tranche (“First Tranche”) of its previously announced non-brokered private placement (the “Offering”) of up to 16,666,667 Units at $0.15 per Unit, for gross proceeds of up to $2,500,000. Under the First Tranche, the Company issued 8,258,336 Units, raising $1,238,750.40. Dr. Phone Fix expects to complete the second tranche of the Offering in the coming weeks.
Each Unit consists of one common share (“Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Share at $0.25 per Share for a period of two years from the issuance date. All securities issued under the Offering are subject to a statutory hold period of four months and one day as required by applicable securities laws.
“The successful closing of this first tranche is an important milestone in executing our strategic growth plan,” said Piyush Sawhney, CEO of Dr. Phone Fix. “We are focused on accelerating growth through a disciplined M&A strategy alongside organic store openings, with the goal of doubling our store count from 35 to 70 over the next 12 to 18 months. This financing provides the capital to act on these opportunities and deliver long-term value for our shareholders.”
Certain finder’s fees were paid in connection with the First Tranche, consisting of a 7% cash fee of gross proceeds from persons introduced by the finders, as well as Broker Warrants equal to 7% of the Units subscribed by such individuals. Each Broker Warrant may be exercised to acquire one Share at $0.25 for a period of two years.
A director of Dr. Phone Fix subscribed for 990,000 Units as part of the First Tranche. This participation is considered a related party transaction under TSX Venture Exchange (“TSXV”) Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”). The Company relied on exemptions in MI 61-101 sections 5.5(a), 5.5(b), and 5.5(c) from the requirement for a formal valuation, and section 5.7(1)(a) from the requirement for minority approval.
Dr. Phone Fix did not file a material change report more than 21 days prior to closing, as the participation of the director and its terms were finalized only shortly before closing. The Company proceeded to close promptly for sound business reasons.
The Offering is expected to close on or about October 23, 2025, subject to customary conditions, including final TSXV approval. The Company may increase the Offering to 26,666,667 Units, for gross proceeds of up to $4,000,000, prior to closing.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities described herein in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. Persons except pursuant to registration or an applicable exemption.
Click here for more information.
