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Infinity Stone Ventures Corp. — Capital/Financing Update 2022
Aug 31, 2022
46166_rns_2022-08-31_6180b85a-5dee-4bf0-8fc6-ae0cea7d7e7c.pdf
Capital/Financing Update
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MATERIAL CHANGE REPORT
Item 1. Name and Address of Company – Infinity Stone Ventures Corp. (the “Company”), #750-1095 West Pender Street, Vancouver, BC V6E 2M6. Item 2. Date of Material Change – August 29, 2022 Item 3. News Release – News Release issued August 30, 2022 through Newsfile Corp. Item 4. Summary of Material Change – Infinity Stone Ventures Corp. (formerly Kontakt World Technologies Corp.) (CSE:GEMS) (OTC:TLOOF) (FSE:B2IO) (the “Company” or “Infinity Stone”) announces the closing of the third tranche a non-brokered private placement and the issuance of stock options.
Item 5. Full Description of Material Change – is pleased to announce the closing of the third tranche of a financing (the “Financing”) of units (each, a “Unit”) of the Company through the issuance of 2,333,332 Units at a price of $0.15 per Unit, for gross proceeds of $350,000. Each Unit is comprised of one Class A Subordinate Voting Share (a “Share”) and one-half (1/2) of one share purchase warrant (a “Warrant”). Each whole Warrant is exercisable into one (1) Share (a “Warrant Share”) at a price of $0.30 for a period of three (3) years from the date of issuance.
The Company has raised a total of $750,500 and issued a total of 5,003,331 Units in the three tranches of this financing.
In connection with the third tranche, the Company issued 49,600 finders’ warrants, and paid finder’s fees of $7,440. Each finders’ warrant is exercisable at a price of $0.30 for a period of two (2) years from the date of issuance.
The Company intends to use the net proceeds from the financing towards general working capital.
The Company also announces it has issued 550,000 stock options at an exercise price of $0.30 for a three-year term to directors, officers and consultants.
Item 6. Reliance on Section 7.1(2) or (3) of National Instrument 51-102 – Not applicable.
Item 7. Omitted Information – No significant facts remain confidential in, and no information has been omitted from, this report. Item 8. Executive Officer – Mr. Zayn Kalyan, Director of the Company, is knowledgeable about the material change and this report. He can be contacted at (778) 938-3367. Item 9. Date of Report – August 31, 2022