Summary by Futu AI
On January 30, 2024, Bruush Oral Care Inc. entered into a securities purchase agreement with Yaletown Bros. Ventures Ltd., involving the private placement of 33,000,000 pre-funded warrants. These warrants, exercisable at $0.001 per share, allow Yaletown Bros. Ventures Ltd. to acquire up to 33,000,000 shares of Bruush Oral Care's common stock. The transaction was completed on the same day, with the warrants being fully paid upon issuance. This agreement is part of Bruush Oral Care's broader investment management strategy and is not associated with any legal proceedings or violations of securities laws. The company has ensured compliance with all necessary regulatory requirements and has made provisions to maintain the required number of authorized but unissued shares to fulfill the warrants. The agreement also includes provisions for adjustments in the event of stock dividends, splits, or other corporate restructuring, as well as protections for the investors in case of a fundamental transaction such as a merger or sale of the company.
