Predictiv AI Announces Financing Terms for Shift Technologies and HouseStack Holdings Transaction

Predictiv AI Inc. disclosed additional details of its proposed $1.5 million financing related to a reverse takeover transaction with Shift Technologies Canada Inc. and HouseStack Holdings Inc. This includes a planned share consolidation and a non-brokered private placement financing.

The proceeds will fund various needs such as a $250,000 cash component for completing the acquisitions, final development phases for HouseStack's platform, commercial launch and marketing of Shift's AI-driven fleet management platform, and general corporate purposes.

The financing involves issuing subscription receipts priced at $0.10 each, held in escrow until closing. Each receipt converts into one common share and half a share purchase warrant upon fulfilling conditions. Warrants permit purchasing additional shares at $0.15, potentially increasing the price to $0.30 under certain circumstances.

Expectations for the private placement's closure are around November 29, 2024. Trading in Predictiv AI's common shares has been halted since August 2024 and will resume post-transaction.