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The latest update is out from Astron Connect ( (TSE:AST) ).
Astron Connect Inc. plans to raise up to $2.3 million through a non-brokered private placement of up to 46 million subscription receipts priced at $0.05 each, replacing a previously announced unit financing. Each subscription receipt will convert into a unit comprising one common share and one share purchase warrant, contingent on escrow release conditions tied to the company’s proposed reverse takeover of Innolink Network Ltd. and required shareholder and regulatory approvals. If the conditions are not met by December 31, 2026, investors will receive their funds back with accrued interest and the receipts will be cancelled. Subject to approvals, the proceeds will be directed to hardware purchases, infrastructure and technology upgrades, and general working capital, positioning Astron Connect to support its planned transaction with Innolink and strengthen its operational and technological base for future growth.
More about Astron Connect
Astron Connect Inc., listed on the TSX Venture Exchange, operates in the food and beverage sector by helping Canadian producers expand into international markets, particularly China and other emerging economies. Leveraging export logistics and distribution capabilities, the company markets Canadian brands such as Manna Water and Sachiel Water, which supply pure Canadian bottled spring water abroad.
Technical Sentiment Signal: Hold
Current Market Cap: C$847.6K
For an in-depth examination of AST stock, go to TipRanks’ Overview page.