AAPKI Ventures (CSE APKI) announces Closing of Financing and new C-suite changes, including top leadership positions

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Surrey, British Columbia, July 03, 2024 (GLOBE NEWSWIRE) — Aapki Ventures Inc. (“AAPKI” or the “Company”) (CSE: APKI) (FFT: 64Q), announces that that it has closed its previously announced non-brokered private placement. The Company accepted subscriptions for 58,000,000 units at a price of $0.05 per unit (the “Units”) for gross proceeds of $2,900,000.

Pursuant to the terms of the Financing, each Unit consists of one common share in the equity of the Company and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.06 per share for a period of two (2) years from the closing of the Financing. Warrants are subject to a four-month acceleration upon the shares trading for 10 consecutive days at $0.25 or more.

Two insiders of the Company subscribed for an aggregate of 51,200,000 units of the Company. Such participation is considered a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization

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Securities issued are subject to trading restrictions until November 4, 2024.  

Proceeds of the Financing will be used by the Company to entertain project investment and working capital.

The Company also announced that Marcus Withers has been named CEO of the Company. Mr. Withers brings broad experience in building and developing commercial and residential real estate in the midwestern United States, creating and expanding entertainment venues and initiatives and in owning and operating automobile dealerships, financing elements and dealership services over his thirty year career in Louisville KY.

Mr. Withers has made a $2.5 million dollar investment to provide AAPKI with starting capital to expand its venture and business development units and intends to execute within this sphere to build APKI quickly towards expansion to succeed in the competitive landscape. This investment was part of the $2.9 million dollar private placement which closed on Tuesday July 2, 2024.

Mr. Withers has bought and sold nearly a hundred properties in his thirty year real estate career and built a strong regional portfolio of multi family, single family and commercial properties. He has focused on specialty projects in the lower income space in concert with State and locally enhanced business partnerships over the past few years.

Additionally AAPKI has named John Flynn as Chief Financial Officer. Mr Flynn was the President, Chief Financial Officer and co-founder of Segmentz, a regional logistics company that became XPress-1 (XPO) on the NY Stock Exchange, from 2000-2005. Mr Flynn brings strong public capital markets experience to APKI and has a strong background in early stage business development across many industries.

AAPKI will open a United States office in Louisville KY and begin an active search to expand its venture and financial investment businesses.

Lucky Janda, former CEO of APKI will become the VP of Marketing and Capital Markets and will be located in the United States in the Louisville Office.

Please contact John Flynn with any investor questions [email protected].

ON BEHALF OF THE BOARD
Marcus Wither, CEO
917-501-1033

This news release contains forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the capital markets, operational, funding, and liquidity risks. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedarplus.ca and readers are urged to read these materials. The Company assumes no obligation to update any forward- looking statement or to update the reasons why actual results could differ from such statements unless required by law.

Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States securities act of 1933, as amended, and may not be offered or sold in the united states or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such act.

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