Dilution

Revelation Biosciences is raising approximately $11 million by exercising outstanding warrants at $0.86 per share. This move also involves issuing new warrants for an additional 26,130,000 shares, contingent on stockholder approval. The capital will support the company’s clinical-stage life sciences operations. This financing strategy, while common, may lead to shareholder dilution. The market’s reaction historically has been mixed to such equity-linked financing.

Tincorp Metals has granted 1,055,000 stock options to its directors, officers, employees, and consultants at an exercise price of $0.44 per share. This move, pending regulatory approval, aims to align stakeholder interests with shareholders and encourage long-term commitment. The options vest over three years and are exercisable for five years. This strategy balances incentivizing key personnel with managing potential share dilution, as Tincorp focuses on its tin exploration projects in Bolivia.

Organto Foods is launching an early exercise incentive program to encourage holders of its outstanding warrants to exercise them ahead of schedule. This initiative, pending TSX Venture Exchange approval, offers warrant holders one additional warrant for every three exercised, in exchange for early conversion. If successful, the program could generate significant capital for Organto Foods, potentially up to $6 million, to fund operations and growth. While this strategy can bolster immediate cash flow, it also introduces potential share dilution.

Thermal Energy International Inc. (TSXV: TMG/OTCQB: TMGEF) announced on Nov 30 2025 that it granted 3,334,000 stock options to its officers and directors. The options have a five‑year term with an exercise price of $0.125 per share, pending regulatory approval. 1,334,000 will vest in three equal annual installments; the remaining 2,000,000 will vest in four equal annual installments. The grant aligns management with shareholders but could cause dilution if exercised.

Zefiro Methane Corp. (OTCQB: ZEFIF) settled CAD 407,856 of debt with two creditors on Nov 28 2025. The company will issue 1,127,273 common shares at a CAD 0.275 deemed price and grant 400,000 stock options exercisable at CAD 0.40, each expiring in one year. An additional CAD 97,856 of debt is forgiven without consideration. All issuances are subject to a four‑month‑plus‑one‑day hold period and CBOE Canada approval, potentially diluting existing shareholders but strengthening the balance sheet for growth in the methane‑abatement market.

.Maris‑Tech Ltd. (Nasdaq: MTEK) issued $2 million in non‑interest‑bearing convertible promissory notes to institutional investors. Net proceeds will fund working capital, general corporate needs, and U.S. commercial expansion. Note A opens a conversion window at six months and is fully convertible at twelve months; Note B is fully convertible at twelve months, with any remaining principal automatically converting after twenty‑four months, all subject to a price‑floor formula. The notes were sold in a private placement exempt from registration, meaning they cannot be publicly resold and will dilute existing shareholders upon conversion.

Bitfarms (BITF) priced an upsized US$500M offering of 1.375% convertible senior notes due 2031, plus an initial purchaser option for US$88M. Closing is expected around October 21, 2025, contingent on standard conditions and TSX approval. The initial conversion rate is 145.6876 shares per US$1,000, ≈US$6.86 per share, a ~30% premium. Capped call transactions mitigate dilution, with an initial cap price of US$11.88 (~125% premium). Net proceeds will fund general corporate purposes and capped calls.

Star Navigation Systems Group Ltd. (SNAVF) closed a $475,000 private placement, issuing 47.5 million units at $0.01 each, consisting of a common share and a warrant exercisable at $0.05. Proceeds will fund working capital and development of the Star-A.D.S. system, an in-flight safety monitoring technology. While the placement introduces potential dilution, it supports Star Navigation’s growth in the aviation safety market. All securities are subject to a four-month hold period.

Reviva Pharmaceuticals (RVPH) announced a $9 million public offering of 27 million shares/equivalents, plus Series E & F warrants, priced at $0.335 per share. Proceeds will fund R&D and corporate purposes. The Series E warrants expire in 5 years, Series F in 12 months, both exercisable at $0.335. Expected closing is around Sept. 22, 2025. The offering, led by A.G.P./Alliance Global Partners, may lead to shareholder dilution, with potential for 54 million additional warrant shares.

YY Group (YYGH) closed a registered direct offering, raising $4.0 million. The offering included 9,523,812 Class A shares at $0.42 each, plus warrants for up to 14,285,718 additional shares at $0.50, exercisable within 3.5 years. FT Global Capital was the placement agent. Proceeds will fund working capital and general corporate activities. The offering was made under a shelf registration statement.