EDMONTON, AB, May 19, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) announced today a non-brokered private placement financing of convertible debenture units (the “Offering”) for total gross proceeds of up to $2.5 million.
Under the Offering, each unit (a “Unit”) will consist of:
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One unsecured convertible debenture with a principal value of $1,000 (a “Convertible Debenture”)
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3,125 common share purchase warrants (“Warrants”)
The Warrants provide investors with 50% warrant coverage based on the number of common shares issuable upon conversion of the debenture. The Convertible Debentures will carry an annual interest rate of 10%, accruing from the closing date and payable yearly.
Holders of the Convertible Debentures will have the option to convert the outstanding principal into common shares of the Company at a conversion price of $0.16 per share at any time from the closing date until 24 months after issuance (the “Maturity Date”). Each Warrant will entitle the holder to purchase one common share at an exercise price of $0.22 for a period of 24 months from issuance.
Additionally, beginning four months and one day after closing, the Company may accelerate the expiry date of the Warrants if the closing price of Dr. Phone Fix common shares on the TSX Venture Exchange (“TSXV”) remains at or above $0.40 for 10 consecutive trading days. In such a case, the Warrants would expire 30 days following the issuance of a press release announcing the acceleration.
Upon maturity, any outstanding principal and unpaid interest under the Convertible Debentures will be repaid in cash by the Company. All securities issued in connection with the Offering, including shares issued upon conversion of the debentures or exercise of the Warrants, will be subject to a statutory hold period of four months and one day pursuant to applicable securities regulations and TSXV policies.
Dr. Phone Fix intends to use the net proceeds from the Offering to support its long-term growth initiatives, including:
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Strategic acquisitions
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New store openings
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Expansion of its national footprint
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General working capital and corporate purposes
The Offering will be conducted through a private placement in Canada to accredited investors and other eligible purchasers in accordance with National Instrument 45-106 – Prospectus Exemptions. The Company may also offer Units to select accredited investors outside Canada, including eligible investors in the United States under applicable exemptions from U.S. securities registration requirements.
The financing may close in multiple tranches, with the final closing expected on or around May 29, 2026, subject to all required regulatory approvals, including approval from the TSXV. Finder’s fees may also be paid on portions of the Offering in accordance with applicable securities laws.
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