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Vancouver, British Columbia--(Newsfile Corp. - March 12, 2025) - Pioneer AI Foundry Inc. (CBOE: JPEG) ("Pioneer" or the "Company") a leading agentic AI venture builder, is pleased to announce that it has closed the previously announced non-brokered private placement (see press release dated February 21, 2025) of units (each a "Unit") for gross proceeds of $1,028,873.34, representing 5,715,963 Units sold at a price of $0.18 per Unit. (the "Offering").
Each Unit will consist of one common share of the Company and one transferable common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.25 for a period of 24 months from issuance, expiring March 11, 2027.
The Company intends to use the proceeds raised from the Private Placement to continue executing on its strategic growth plan, continuous investment in technology research and development and for general working capital and corporate purposes.
All securities issued under the Private Placement will be subject to a statutory four month hold period following the date of closing of the Private Placement.
Darcy Taylor, CEO of the Company, Jim MacCallum, CFO of the Company, and Mark Rutledge, a director of the Company, each participated in the Private Placement purchasing an aggregate of 665,972 Units for an aggregate price of $119,874.96 representing 11.7% of the Units issued.
Darcy Taylor, CEO of Pioneer commented, "The positive response to our financing underscores the confidence investors have in Pioneer AI Foundry's execution and forward-looking vision. The demand, combined with the strong participation from our management team and previous shareholders, reaffirms our commitment to driving long-term value for key stakeholders. With these proceeds, we are well-positioned to accelerate our strategic growth initiatives and further advance our AI-Agent driven technology solutions. We appreciate the support from both new and existing investors and look forward to continuing our momentum in building the future of Agentic AI Agents and decentralized finance."
The Company has paid an aggregate finder's fees of $35,039.91 cash and 194,666 non-transferrable warrants (the "Finder's Warrants") to three finders in connection with the Private Placement. Each Finder's Warrant will be exercisable into one common share of the Company at a price equal to $0.25 per share for a period of 24 months from issuance.