Harrys Manufacturing (TSE:HARY) has released an update.
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Harrys Manufacturing Inc. has successfully closed the first tranche of its private placement, raising $30,000 by selling 1.5 million units at $0.02 each. The funds are earmarked for general operational and administrative expenses, while each unit includes a share and a warrant for purchasing additional shares at $0.05 within 24 months. Notably, a company director participated in the funding, which is considered a related party transaction exempt from certain regulatory requirements due to its size relative to the company’s market cap.
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