NowVertical Group Appoints New CEO and Announces $15.1 Million Private Placement
News related to:NowVertical Group Inc · 2 min read
TORONTO, Oct. 06, 2026 /CourierPR/ -- NowVertical Group Inc., a global data and analytics company, has appointed Andre Garber as its new Chief Executive Officer (CEO), effective immediately. Garber, who previously served as the company’s Chief Development Officer and was interim CEO since June 2026, brings a wealth of experience to the role. His appointment is seen as a strategic move to bolster the company’s growth trajectory.
In conjunction with this leadership change, NowVertical Group Inc. has announced a "best efforts" brokered private placement, expected to raise up to $15.1 million. The offering will consist of two main components: the sale of up to 42,500,000 units at a price of $0.12 per unit, generating up to $5.1 million, and the sale of 10,000 convertible debenture units, expected to bring in up to $10 million.
Each unit will be comprised of one Class A Subordinate Voting Share and one half of one Common Share purchase warrant. The warrants will entitle the holder to acquire one Common Share at a price of $0.20 for 24 months following the closing date. The convertible debenture units will include $1,000 principal amount of 10% senior unsecured convertible debentures, along with 2,500 Common Share purchase warrants. These warrants will allow the holder to acquire one Common Share at a price of $0.25 for 36 months following the closing date.
VRG Capital, a Toronto-based group of family offices, will lead the financing. The company intends to use the net proceeds of the Offering to strengthen its balance sheet, support the execution of its growth strategy, and for working capital and general corporate purposes.
The Offering is subject to certain conditions, including approval from the TSX Venture Exchange (TSXV). Closing of the Offering is expected to take place on or about October 15, 2026. In consideration for its services, the agent, Clarus Securities Inc., will receive a cash commission of 5.0% of the gross proceeds from the sale of the units, except for sales to purchasers on a president’s list, where the commission will be reduced to 2.5%. The company will also issue non-transferable broker warrants equal to 7.0% of the number of units sold, except those sold to the president’s list. Each broker warrant will be exercisable to acquire one unit at a price of $0.12 per unit for a period of 24 months from the closing date.
The Offering will be conducted under the prospectus exemptions available under National Instrument 45-106, Prospectus Exemptions. The securities issued under the Offering will be subject to a hold period expiring four months and one day from the closing date.
This financing is expected to provide NowVertical Group Inc. with the necessary capital to accelerate its growth and execution of its strategic initiatives. The company’s Chair, Elaine Kunda, expressed her confidence in the direction set by Garber and the support of VRG Capital. Garber, in turn, highlighted the strong track record of VRG Capital and the support of its team.
The Offering is not intended for distribution to U.S. news wire services or for dissemination in the United States, as the securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws.