TrustBIX Inc (OTCMKTS:TBIXF) On Radar After Upsizing of Common Share Private Placement

Back on January 31, 2023 TrustBIX Inc (OTCMKTS:TBIXF) announced that it was going to have a non-brokered private placement offering. Yesterday, the company announced that it was going to raise the size of the aforementioned offering owing to strong demand from investors.

TrustBIX Inc. Announces Upsizing of Common Share Private Placement

The size of the offering of common shares was raised to $1,000,000 from $500,000, which would work out to the offering of a maximum of 28,571,428 common shares. The shares are going to be offered at a price of $0.035 each. However, it should be noted that the whole thing is still subject to regulatory approval.

It was a significant announcement from the company since the heavy interest from investors could also lead to a degree of positivity about the TrustBIX stock among retail investors. The company reiterated yesterday that the proceeds from the offering were going to be deployed for general working capital purposes and to bring about growth in the business.

Last but not least, the securities that are going to be issued by the company are going to be subjected to a hold period of four months and a day from the day of the closing of the offering.