NowVertical Group Closes $5.1 Million Initial Tranche, Announces Board Changes

04:56 PM EDT, 10/20/2026 (MT Newswires) -- NowVertical Group (NOW.V) after trade Tuesday said it has closed the first tranche of its private placement, raising $5.1 million in gross proceeds. The company plans to raise up to $15.1 million in total and has secured binding subscription agreements for a second tranche of $10 million through convertible debenture units, which is expected to close in the coming days, it said. As part of the transaction, Chief Executive Andre Garber has joined the board of directors, while J.R. Kingsley Ward has been appointed executive chair. David Charron resigned from the board to focus more on his executive responsibilities, the company said. Garber previously served as interim CEO beginning in June and was formerly chief development officer, according to the statement. Shares of NowVertical Group was down CA$0.005 at CA$0.16 on the TSX Venture Exchange.