Pioneer AI Foundry Closes Oversubscribed Private Placement
March 12, 2025 2:00 AM EDT | Source: Pioneer AI Foundry
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2025) - Pioneer AI Foundry Inc. (CBOE: JPEG) ("Pioneer" or the "Company") a leading agentic AI venture builder, is pleased to announce that it has closed the previously announced non-brokered private placement (see press release dated February 21, 2025) of units (each a "Unit") for gross proceeds of $1,028,873.34, representing 5,715,963 Units sold at a price of $0.18 per Unit. (the "Offering").
Each Unit will consist of one common share of the Company and one transferable common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.25 for a period of 24 months from issuance, expiring March 11, 2027.
The Company intends to use the proceeds raised from the Private Placement to continue executing on its strategic growth plan, continuous investment in technology research and development and for general working capital and corporate purposes.
All securities issued under the Private Placement will be subject to a statutory four month hold period following the date of closing of the Private Placement.
Darcy Taylor, CEO of the Company, Jim MacCallum, CFO of the Company, and Mark Rutledge, a director of the Company, each participated in the Private Placement purchasing an aggregate of 665,972 Units for an aggregate price of $119,874.96 representing 11.7% of the Units issued.
Darcy Taylor, CEO of Pioneer commented, "The positive response to our financing underscores the confidence investors have in Pioneer AI Foundry's execution and forward-looking vision. The demand, combined with the strong participation from our management team and previous shareholders, reaffirms our commitment to driving long-term value for key stakeholders. With these proceeds, we are well-positioned to accelerate our strategic growth initiatives and further advance our AI-Agent driven technology solutions. We appreciate the support from both new and existing investors and look forward to continuing our momentum in building the future of Agentic AI Agents and decentralized finance."
The Company has paid an aggregate finder's fees of $35,039.91 cash and 194,666 non-transferrable warrants (the "Finder's Warrants") to three finders in connection with the Private Placement. Each Finder's Warrant will be exercisable into one common share of the Company at a price equal to $0.25 per share for a period of 24 months from issuance.
ABOUT PIONEER AI FOUNDRY INC.
Pioneer AI Foundry is a next-generation Agentic AI venture builder, primarily operating via its wholly owned subsidiary Crowdform - an AI Agent technology and IP development company.
By leveraging a venture studio and technology incubator model, Pioneer AI Foundry develops and scales revenue-generating Agentic AI-driven technologies at the intersection of AI Agents and Defi/crypto, leveraging the Solana ecosystem. Pioneer specializes in autonomous revenue-generating AI Agent solutions, which are primarily developed within its wholly owned operating subsidiary Crowdform.
In addition, Pioneer has formed successful partnerships with some leading AI companies globally with several projects fully deployed and in-market delivered through operating companies in which Pioneer is a significant shareholder. These partnerships focus on the intersection of revenue-generating Agentic AI and DeFi.
For additional information, visit www.p10neer.ai or www.sedarplus.ca.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-Looking statements consist of statements that are not purely historical, and such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
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