Mijem Newcomm Tech Inc. (CSE: MJEM.X) said Oct. 19, 2026 that it will offer up to 6,000,000 units in a non-brokered private placement at $0.05 per unit, for gross proceeds of up to $300,000. Each unit comprises one common share and one common share purchase warrant.
The warrants are exercisable at $0.05 per share for 36 months following the closing date. Taken together with the shares in each unit, the offering could result in the issuance of up to 12,000,000 common shares on a fully diluted basis if all warrants are exercised. The release did not state the company's current number of shares outstanding.
The company said the offering is expected to close on or about November 30, 2026, and may close in one or more tranches, subject to the receipt of all necessary regulatory approvals, including acceptance by the Canadian Securities Exchange.
Mijem said that because the offering could result in the issuance of more than 100% of its total outstanding securities, CSE Policy 4.6(2)(a) requires the company to obtain shareholder approval for the issuance of the warrants at its next shareholder meeting. If that approval is not obtained, the warrants will be cancelled.
All securities issued under the offering will be subject to a statutory hold period expiring four months and one day after issuance, in accordance with Canadian securities law, the company said. It said net proceeds from the offering will be used for working capital.
The release did not describe Mijem's business, name any participating investors, or state whether any insiders are subscribing. It also gave no agent or finder, consistent with a non-brokered offering.