Inturai Ventures closes first tranche of private placement at $0.15

Inturai Ventures Corp. (CSE: URAI) (OTC: URAIF) (FSE: 3QG0) has closed the first tranche of a non-brokered private placement, issuing 6,273,331 units at $0.15 per unit for gross proceeds of $940,999.65, according to a press release.

The offering was structured for up to 8,500,000 units at $0.15 each, targeting total gross proceeds of up to $1,275,000. Each unit consists of one common share and one share purchase warrant, with each warrant exercisable at $0.25 per share for 24 months from issuance. The warrants include an accelerated expiry provision if the share price closes at or above $0.35 for five consecutive trading days.

The company paid $9,900 in cash and issued 66,000 finder warrants to arm's-length parties who assisted in the offering. Each finder warrant is exercisable at $0.25 until Aug. 28, 2028. Securities issued to finders are subject to resale restrictions until Dec. 29, 2026.

The units were sold under the listed issuer financing exemption in Canadian provinces except Quebec, and in other qualifying jurisdictions including the United States. Units issued under this exemption are immediately free-trading under Canadian securities laws.

Inturai Ventures said it expects to close the remainder of the offering in one or more tranches in the coming weeks. Proceeds are intended for research and development, business development, and general working capital.

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