NowVertical Group Raises $10 Million in Final Tranche of 'Best Efforts' Private Placement

02:25 PM EDT, 10/22/2026 (MT Newswires) -- NowVertical Group (NOW.V) raised $10 million in the second and final tranche of its "best efforts" private placement offering, bringing the total gross proceeds from the offering to $15.1 million, it said Thursday. The company issued 10,000 convertible debenture units in the final tranche, with each unit made up of $1,000 principal amount of 10% senior unsecured convertible debentures of the company and 2,500 share purchase warrants, said the company. The convertible debentures, which mature in 36 months following the closing, are convertible into Class A Subordinate Voting Shares of the company, at the holders' option, at $0.20 per subordinate voting share. Each debenture warrant entitles the holder to buy a subordinate voting share at $0.25 for 36 months following the closing, NowVertical said. The company plans to use the net proceeds to strengthen its balance sheet, support the execution of its growth strategy and for working capital and general corporate purposes, it added. The company's shares were last seen unchanged at CA$0.145 on the TSX Venture Exchange. Price: 0.15, Change: +0.01, Percent Change: +3.45