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EYEFI Group Technologies Inc ( (TSE:SPAI) ) has shared an update.
SPARC AI Inc. announced the successful closing of a non-brokered private placement, raising net proceeds of $311,899. These funds will be used to further develop the company’s Target Acquisition System, particularly for defense applications, and to support marketing and corporate activities. The issuance involved 1,572,976 units, each comprising a common share and a warrant, with the potential for accelerated warrant expiry based on market conditions. This financial move is expected to bolster SPARC AI’s market positioning by enhancing its product offerings and expanding its operational capabilities.
More about EYEFI Group Technologies Inc
SPARC AI Inc. designs and develops high-tech solutions for environments where GPS is not available, enhancing perception and awareness. The company has created an innovative Target Acquisition System and Autonomous Flight solution for drones that does not rely on GPS, satellite, lidar, radar, image recognition, or other complex hardware or software.
Average Trading Volume: 54,430
Technical Sentiment Signal: Buy
Current Market Cap: C$8.22M
Find detailed analytics on SPAI stock on TipRanks’ Stock Analysis page.