TTGI plans C$3.5M private placement and C$2M debt settlement

Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) announced a non-brokered private placement targeting gross proceeds of up to C$3,500,000, along with shares-for-debt transactions to settle up to C$2,000,000 in outstanding indebtedness.

Under the offering, the company plans to issue up to 116,700,000 units at C$0.03 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable at C$0.05 per share for three years from issuance.

The company states it intends to use net proceeds to retire certain debt facilities and fund working capital, including strategic partnerships and sales and marketing activities. The offering may close in multiple tranches and is expected to be completed on or around October 30, 2026, subject to TSX Venture Exchange approval.

For the debt settlements, the company plans to issue up to 66,700,000 units at a deemed price of C$0.03 per unit to settle outstanding trade payables. Units issued under the debt settlement will be subject to a hold period of four months and one day from issuance.

Securities issued under the offering will also carry a hold period of four months and one day. The company may pay finder's fees of up to 7% in cash and 7% in warrants to eligible finders. Insiders may participate in the offering, with details to be disclosed at a later date.

Completion of both transactions remains subject to regulatory approvals, including final acceptance by the TSXV. The securities have not been registered under the U.S. Securities Act of 1933 and are not being offered in the United States.

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