Relief AI goes public via reverse takeover, raising C$5.7M
What's the deal? Relief AI Inc.Dealroom has a profile for this one. Try Dealroom → has gone public through a reverse takeover, in which shell company 1329308 B.C. Ltd.Dealroom has a profile for this one. Try Dealroom → acquired all of its outstanding securities and renamed itself Naia Relief Inc. The deal closed September 8, 2026, and was structured as a three-cornered amalgamation under Ontario's Business Corporations Act.
How it works: Relief AI shareholders received one common share of the newly named company for each share held, with warrants and options exchanged for like securities. Before closing, the shell consolidated its shares on a one-for-9.0363 basis and adopted the Naia Relief name.
The money: Alongside the takeover, Relief AI raised C$5,726,900 through a private placement of 5,726,900 subscription receipts at C$1.00 each. Each receipt converted into one share plus half a warrant; each full warrant buys one share at C$1.25 for 24 months. Completing the financing was a condition of the deal.
Who's in charge? The board and management were reconstituted at closing. Paul Pint takes over as chief executive officer, with Frank Scheelen as president and Jordan Greenberg as chief financial officer. Jen Thor was named corporate secretary, and the board now includes Philip Williams, James Lanthier, and Arne Schulz.
What's the endgame? Naia Relief describes itself as building NAIA, which it calls "the world's first AI" product for mental well-being. Going public gives the company a listing and fresh capital to advance that work.
The signal: Reverse takeovers remain a well-worn route for smaller companies to reach public markets without a traditional listing. For an early-stage AI health startup, the structure trades the cost and scrutiny of an IPO for speed — and a modest war chest to prove out its product.
Read more: finanznachrichten.de
Image credit: Generated with Gemini
