Redwood AI Concludes $3.5 Million Private Placement

Redwood AI Corp., headquartered in Vancouver, has finalized its $3.5 million private placement. This offering involved 1,663,000 special warrants sold at $2.11 each to a single U.S. institutional investor. Upon exercise, each warrant converts into a unit comprising one common share and one warrant. Investors can purchase an additional share at $2.48 within 60 months.

Maxim Group LLC served as the exclusive placement agent. Proceeds from this transaction will finance working capital and general corporate needs. The securities are subject to Canadian and U.S. resale restrictions.

The company has submitted a base shelf prospectus to Canadian authorities. Pending its finalization, Redwood commits to filing a supplement qualifying the units’ distribution. Automatic warrant exercise will occur by a prescribed date, with a potential for increased units if supplement filing is delayed.