Frequency Exchange Completes First Tranche of Private Placement

Frequency Exchange Corp., a technology company developing wearable digital wellness solutions, has successfully completed the first tranche of its private placement. The company issued 1,708,230 units at a price of $0.25 per unit, raising a total of $427,057. Each unit consists of one common share and one-half of a common share purchase warrant, with an exercise price of $0.40 and a term of 12 months from the date of issuance.

According to the press release, the warrants are subject to an acceleration clause. If the volume-weighted average trading price of the common shares on the TSX Venture Exchange reaches $0.70 per share for any 10 consecutive trading days, the company may accelerate the expiry date of the warrants to a date that is at least 21 days after the notice is provided. No finder’s fees were paid in connection with this private placement.

Insider participation in the private placement, amounting to $138,779, constitutes a related party transaction as defined under Multilateral Instrument 61-101. However, this participation is exempt from the formal valuation and minority shareholder approval requirements of the instrument, as neither the fair market value of the units acquired by the insider nor the consideration paid by the insider exceeded 25% of the company’s market capitalization.

The company has extended the closing date of the private placement to September 28, 2026. The private placement is subject to final approval from the TSX Venture Exchange. Net proceeds from the first tranche are expected to be used for expanding sales and marketing, increasing inventory, advancing technology and platform development, growing the company’s team, supporting international expansion, and general working capital.

Frequency Exchange Corp. is focused on developing the next generation of wearable digital wellness solutions through its flagship platform, NIKKI. Unlike traditional wearable devices that primarily monitor health metrics, NIKKI delivers personalized frequency-based wellness programs designed to support sleep, stress, recovery, energy, and overall wellbeing. Originally developed through research supporting individuals living with Lyme disease, NIKKI has evolved into a scalable wearable digital wellness platform addressing some of today’s largest global health challenges.

The company’s expansion plans include leveraging the funds raised to enhance its platform, increase market reach, and support its growing team. With the recent private placement, Frequency Exchange Corp. aims to solidify its position in the rapidly growing digital wellness market and continue driving innovation in the field.