Prospect Markets closes C$2 million private placement

Prospect Prediction Markets Inc. (TSXV: MKT) (OTCQB: MKTSF) (FSE: DEP) announced the completion of a non-brokered private placement that raised C$2 million in gross proceeds.

The company issued 5 million common shares at C$0.40 per share. The offering was led by Matco Financial, Lucida Capital and AlphaNorth Asset Management, with participation from the company's management team.

The TSX Venture Exchange provided conditional approval for the offering on May 22, 2026. Final approval remains pending. The shares are subject to a four-month hold period under securities laws.

Company insiders purchased 187,500 shares under the offering, constituting a related party transaction. The transaction qualified for exemptions from formal valuation and minority approval requirements as it did not exceed 25% of the company's market capitalization.

The company paid C$6,000 in finder's fees, representing 6% of gross proceeds from subscribers introduced by qualified finders.

"This financing is an important milestone for Prospect Markets," said Johnny Chen, founder and chief executive officer. "The capital raised will allow us to accelerate product development, scale our team, and execute on the strategic roadmap we have been building toward."

Prospect Markets operates a prediction market platform focused on sports betting and fan engagement. The company plans to use the net proceeds for general corporate and working capital purposes.

The information is based on a company press release statement.

You May Also Be Interested In

• PreveCeutical closes second tranche of private placement for $245,000
• SU Group Holdings (SUGP) files for 38.32M share offering by sellng stockholders
• Super League Enterprise (SLE) files for 1.07M share offering by selling stockholders