BEACN Announces $1,000,000 Non-Brokered Private Placement

Vancouver, BC / Accesswire / June 18, 2024 – BEACN Wizardry & Magic Inc. (TSX-V:BECN) has announced a non-brokered private placement aiming to raise up to $1,000,000. The offering consists of 5,555,556 common shares priced at $0.18 per share.

The funds will accelerate sales and new product investment. Investors may designate their shares as Eligible Business Corporation Shares (EBC Shares), qualifying for a 30% tax credit but subject to a 5-year sale restriction.

CEO Craig Fraser stated that this initiative supports the company's growth in sales, marketing, product development, and new partnerships.

Directors, officers, and major shareholders may participate in the offering. Such participation will be a "related party transaction" but exempt from certain formal valuation and minority shareholder approval requirements.

The proceeds will target B2B and B2C sales, strategic inventory purchases, R&D for new products, and working capital. The closing is contingent on regulatory approvals, and finder's fees may be paid.