Astron Connect Concludes Oversubscribed Private Placement
VANCOUVER, BRITISH COLUMBIA — February 27, 2026 — Leads & Copy — Astron Connect Inc. (TSXV: AST) has closed its non-brokered private placement, issuing 47,800,000 subscription receipts at $0.05 each, raising gross proceeds of $2,390,000.
The offering, managed without a broker, was oversubscribed by 1,800,000 subscription receipts. Each subscription receipt entitles the holder to one unit of the company, comprising one common share and one share purchase warrant. The warrant allows the holder to purchase an additional share at $0.05 for three years following the offering’s closing.
The gross proceeds from the offering are held in escrow and will be released upon the satisfaction of certain conditions. These include the completion or waiver of all conditions precedent to the company’s reverse takeover transaction with Innolink Network Ltd., receipt of required shareholder and regulatory approvals, and the distribution of the units underlying the subscription receipts being exempt from applicable prospectus requirements.
If these conditions are not met by 5:00 p.m. (Vancouver time) on December 31, 2026, the company will return the pro rata share of the escrowed proceeds, plus accrued interest (less applicable withholding tax), to the subscription receipt holders. The subscription receipts will then be cancelled.
Assuming the conditions are met, the escrowed proceeds plus accrued interest will be used for hardware purchases, infrastructure and technology upgrades, and general working capital.
The company previously released news regarding the transaction on October 27, 2025, and it is filed on SEDAR+.
All securities issued are subject to a hold period expiring four months and one day after the offering’s closing date, in accordance with securities laws.
Astron Connect did not pay any finder’s fees for the offering.
Astron Connect helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron Connect brings Canadian food and beverage companies to the world through its extensive connections and export logistics capabilities in China and emerging markets. Manna Water and Sachiel Water (both Astron brands) supply China and other emerging markets with pure Canadian bottled spring water.
Source: Astron Connect Inc.
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