BEACN Closes First Tranche of Non-Brokered Private Placement

Vancouver, BC / ACCESSWIRE / June 20, 2024 / BEACN Wizardry & Magic Inc. (TSXV:BECN) announces the closure of the first tranche of its non-brokered private placement. The company issued 2,890,578 common shares at C$0.18 per share, securing gross proceeds of $520,304.04. Shareholders owning over 10% of the common shares participated significantly, with their holdings totaling 1,680,000 shares.

Investors may opt for shares to be designated as Eligible Business Corporation Shares (EBC Shares), offering a 30% tax credit but imposing a five-year sale restriction. The proceeds will be used to enhance sales initiatives, support inventory purchases, continue R&D, and for general working capital.

All securities issued will be subject to a four-month and one-day hold period under applicable laws. This placement remains subject to TSXV acceptance. The securities offered are not registered under the United States Securities Act of 1933 and are not for sale in the US.