Mijem plans $213K raise to shore up working capital
What's the deal? MijemDealroom has a profile for this one. Try Dealroom → Newcomm Tech has arranged a non-brokered private placement of up to US$220K in units priced at five cents each. The proceeds are earmarked for working capital, and the offering is expected to close on or about November 30, 2026.
The fine print: Each unit pairs one common share with a warrant to buy another share at five cents, exercisable for 36 months. If fully taken up, the deal could issue up to 12 million shares on a diluted basis.
Why now? The financing follows a 1-for-10 share consolidation in October that cut Mijem's share count from about 62.1 million to 6.2 million. Recent financial reporting also flagged going-concern doubts, framing this raise as a liquidity measure rather than a growth bet.
What could go wrong? The terms could prove highly dilutive, and warrant issuance requires shareholder approval at Mijem's next meeting. If that approval isn't granted, the warrants will be cancelled. The offering also remains subject to closing and regulatory approvals, including acceptance by the Canadian Securities ExchangeDealroom has a profile for this one. Try Dealroom →.
The signal: For a small-cap under going-concern pressure, a modest working-capital raise is less a statement of ambition than a bid to stay afloat while it resets its share structure.
Read more: stockwatch.com
Image credit: Generated with Gemini
