North America Home Finance closes first tranche of private placement

North America Home Finance Inc. (CSE: NAHF) closed the first tranche of a non-brokered private placement of Series 1 Non-Voting Preferred Shares, known as "Housing Shares" (CSE: NAHF.PR.A), according to a company statement.

The company issued 58,711 Housing Shares at $9.75 per share, generating gross proceeds of approximately $572,432. The company said it intends to use the proceeds to repay certain liabilities related to current development project investments and to increase permanent capital on its balance sheet.

In connection with the closing, the company paid cash finder's fees of approximately $11,909 and issued 34,900 finder's warrants to eligible arm's-length finders. Each warrant allows the holder to acquire one common share of NAHF at an exercise price of $0.50 per common share for 24 months following the closing date.

All securities issued under the first tranche are subject to a statutory hold period of four months and one day, ending January 26, 2027.

The offering remains open, and the company may close additional tranches subject to regulatory and Canadian Securities Exchange approvals.

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