DR. PHONE FIX ANNOUNCES COMPLETION OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FINANCING

DR. PHONE FIX ANNOUNCES COMPLETION OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FINANCING

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EDMONTON, AB, Oct. 7, 2025 /CNW/ - Dr. Phone Fix Canada Corporation ("Dr. Phone Fix" or the "Company") (TSXV: DPF) is pleased to announce the completion of the Company's first tranche ("First Tranche") of its previously announced non-brokered private placement (the "Offering") of up to 16,666,667 units of the Company ("Units") at a price of $0.15 per Unit for gross proceeds of up to $2,500,000. Under the First Tranche, the Company issued an aggregate of 8,258,336 Units for gross proceeds of $1,238,750.40. Dr. Phone Fix anticipates completing a second tranche of the Offering within the next few weeks.

Each Unit is comprised of one common share of the Company (a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one Share at an exercise price of $0.25 per Share for a period of two (2) years from the date of issuance of the Warrant. All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day in accordance with applicable securities laws.

"The successful closing of this first tranche marks an important step in executing on our strategic plan," said Piyush Sawhney, Chief Executive Officer of Dr. Phone Fix. "We remain focused on accelerating our growth through a disciplined M&A strategy alongside organic store openings, with the clear intention of doubling our store count from 35 to 70 over the next 12 to 18 months. This financing provides us with the capital to act on these opportunities and deliver long-term value to our shareholders."

Fees were paid to certain finders in connection with the First Tranche. Such fees were comprised of a cash payment of 7% of the gross proceeds received from persons introduced to the Company by such finders, as well as common share purchase warrants of Dr. Phone Fix (each a "Broker Warrant") in an amount equal to 7% of the Units subscribed for by persons introduced to the Company by such finders. Each Broker Warrant may be exercisable to purchase one additional Common Share of Dr. Phone Fix at an exercise price of $0.25 for a period of two years from the date of issuance.

A director of Dr. Phone Fix subscribed for 990,000 Units as part of the First Tranche, and such participation is considered to be a related party transaction within the meaning of TSX Venture Exchange ("TSXV") Policy 5.9 and Multilateral Instrument 61–101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Dr. Phone Fix has relied on the exemptions in Sections 5.5(a), 5.5(b) and 5.5(c) of MI 61-101 from the requirement for a formal valuation contained in MI 61-101 and has relied on the exemption in Section 5.7(1)(a) of MI 61-101 from the requirement for minority approval contained in MI 61-101.

Dr. Phone Fix did not file a material change report more than 21 days before the expected closing of the First Tranche because the participation therein by such Dr. Phone Fix director was not determined, and the extent and terms of such participation was not settled, until shortly prior to closing of the First Tranche and Dr. Phone Fix wished to close on an expedited basis for sound business reasons.

The Offering is expected to close on or about October 23, 2025, and is subject to customary conditions, including the final approval of the TSXV. The Company reserves the right to increase the size of the Offering to be an offering of up to 26,666,667 Units, for gross proceeds of up to $4,000,000, at any time prior to the closing of the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such 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, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is an award-winning, eco-friendly, and customer-centric leader in Canada's cell phone and electronics repair and pre-owned resale industry. Founded in 2019, Dr. Phone Fix operates 35 corporately owned retail locations across Canada, offering fast and reliable device repairs, certified pre-owned devices, and a wide range of accessories. The Company maintains strong relationships with OEMs and certified suppliers to ensure high-quality service and product offerings.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: "intend", "believe", "estimate", "expect", "may", "will" and similar references to future periods. Forward looking information includes but is not limited to the successful closing of the Offering, in one or more tranches; the possibility of an increase in the size of the Offering; and the receipt of all applicable required regulatory approvals in respect of the Offering, including but not limited to the approval of the TSXV. Although the Company believes that, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the Company does not receive the necessary approvals required to close the Offering. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

SOURCE Dr. Phone Fix