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PLAID TECHNOLOGIES INC. — Share Issue/Capital Change 2025
Oct 30, 2025
48047_rns_2025-10-29_2f065b43-376c-4907-ab7a-79a690c3dac8.pdf
Share Issue/Capital Change
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Form 51-102F3
Material Change Report
Item 1 Name and Address of Company
Plaid Technologies Inc. (the "Issuer")
6th Floor, 905 West Pender Street
Vancouver, BC V6C 1L6
Item 2 Date of Material Change
October 29, 2025
Item 3 News Release
A news release disclosing the material change was disseminated on October 29, 2025 (the "News Release") through the facilities of The Newswire and subsequently filed on the System for Electronic Document Analysis and Retrieval at www.sedarplus.ca ("SEDAR+").
Item 4 Summary of Material Change
The Issuer completed the second tranche of its non-brokered private placement (the "Offering"), issuing 100,000 common shares at $1.25 each for total gross proceeds of $125,000 (the "2nd Tranche").
Item 5 Full Description of Material Change
Item 5.1 Full Description of Material Change
The Issuer closed the 2nd Tranche of its previously announced Offering.
Together with the first tranche of the Offering, which closed on October 24, 2025, the Issuer has raised gross proceeds of $976,000 under the Offering.
No finder's fees were paid in connection with the Offering. All securities issued pursuant to the second tranche of the Offering are subject to a statutory hold period of four months and one day from issuance, expiring on March 1, 2026, in accordance with applicable Canadian securities laws.
The net proceeds of the Offering will supplement the use of funds previously disclosed in the Issuer's Listing Statement dated August 13, 2025. The table below outlines the amounts originally allocated in the Listing Statement and the additional allocations from the Offering, with the gross proceeds of $976,000 have been raised:
| Use of Funds | Per Listing Statement | Additional Funds Raised with Private Placement ($) |
|---|---|---|
1
| Sales & Marketing | $45,000 | $50,0001 |
|---|---|---|
| Management and Consulting Fees | $80,000 | $30,0002 |
| General & Administrative Expenses | $50,000 | $25,0003 |
| Development Fees (validation, project pilots) | $170,000 | $50,0004 |
| Unallocated Working Capital | $10,000 | $821,0005 |
| Total | $355,000 | $976,000 |
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Item 5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7 Omitted Information
Not applicable.
Item 8 Executive Officer
Guy Bourgeois, Chief Executive Officer Telephone: +1 800 585 7517
Item 9 Date of Report
October 29, 2025
1 Additional efforts to source sale/supply agreements.
2 Provision for hiring additional consultants for business development.
3 Provision for additional administrative expenditures.
4 Provision for additional research and development expenditures on the dispersion technology.
5 Of the $821,000 unallocated working capital, up to $500,000 has been provisionally set aside for potential acquisition of additional graphene inventory. The Company currently has enough inventory, and it has not yet identified a potential acquisition target. However, it intends to begin looking for a suitable target if/when the financing closes.