PANews reported on May 29 that according to Yahoo Finance, blockchain infrastructure company Spetz Inc (CSE: SPTZ) announced the completion of its first round of private placement financing, issuing 14,702,617 units at a price of 0.50 Canadian dollars per share, raising funds of 7,351,308.50 Canadian dollars. Each unit contains 1 common share and 0.5 warrants, and the warrant holder can subscribe for additional shares at 0.75 Canadian dollars per share within 24 months.

The company's CEO Mitchell Demeter said that the funds raised will be used to purchase Sonic tokens, deploy verification node infrastructure and implement DeFi strategies. Participating institutions include Canaccord Genuity Financial and others. According to the announcements on March 24 and May 12, the private placement can issue up to 5,297,383 units, with the final deadline being June 23, 2025.