Northfield Capital Unveils Brokered Financing of Up to $10 Million
Brokered Financing Announcement: Northfield Capital Corporation is initiating a brokered financing offering units at $5.50 each, aiming for gross proceeds of up to $10,000,001, with each unit comprising one class A restricted voting share and one share purchase warrant.
Use of Proceeds: The net proceeds from the offering will be allocated for operational expenditures and general corporate purposes, pending approval from the TSX Venture Exchange, with closing expected around December 2, 2025.
Class B Share Issuance: The company plans to issue up to 2,388 Class B multiple voting shares to CEO Robert Cudney at $6.20 each, allowing him to maintain his voting interest following the offering.
Related Party Transactions: The participation of insiders in the offering and Class B share issuance qualifies as related party transactions under MI 61-101, but exemptions from formal valuation and minority approval are anticipated due to the low market capitalization impact.
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