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FINWIRES

FUTR Raises $4.75 Million Via Private Placement

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FUTR Corporation (FTRC.V), creator of the FUTR Agent App which enables users to store, manage, access, and monetize their personal information and make payments, completed a $4.75 million non-brokered private placement consisting of 23.75-million units at $0.20 apiece, it said Friday.

The company added it received firm commitments for the entire amount, with final closing expected on or about May 25.

Each unit is priced at $0.20 and consists of one common share and one full warrant, with each warrant exercisable to buy a share for $0.50 until May 30, 2028, subject to acceleration terms, it noted.

Proceeds will be used for general working capital and growth initiatives, including potential acquisitions, the company said. Insiders of the company, Chairperson G. Scott Paterson, Chief Executive Alex McDougall and COO Jay Graver have purchased, directly or indirectly, units in the aggregate principal amount of $568,000 pursuant to the offering, it added.

Shares of the company closed up 4.8% to $0.22 on Thursday on the TSX Venture Exchange.

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