VANCOUVER, British Columbia, Aug. 04, 2026 (GLOBE NEWSWIRE) — Encore Technologies Corp. (“Encore” or the “Company”) (CSE: ENCR) is pleased to announce that, further to its news release dated June 25, 2026, it has completed its oversubscribed non-brokered private placement (the “Offering”) through the issuance of 6,410,461 common shares of the Company (each, a “Share”) at a price of $0.26 per Share for gross proceeds of $1,666,719.86.
The Company also announces that it has increased the size of its strategic investment in Solstar Space Company (“Solstar”) to approximately US$1.16 million. The loan proceeds will be advanced to Solstar immediately following completion of the final loan documentation pursuant to the previously announced secured convertible loan agreement.
“Completing this financing and increasing our investment in Solstar represents an important milestone for Encore,” said Stephen Kukucha, Chief Executive Officer of Encore. “We believe Solstar is uniquely positioned to provide communications infrastructure for the emerging space economy, and we look forward to supporting the Company’s next phase of growth while exploring opportunities to create long-term value through our strategic relationship.”
In connection with the Offering, the Company paid aggregate cash finder’s fees of $107,570.39 to certain finders. All securities issued under the Offering are subject to a statutory hold period of four months and one day from the date of issuance.
The Offering constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) as two directors of the Company subscribed for an aggregate of 400,000 Shares for gross proceeds of $104,000. The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the consideration for the securities issued to the related parties did not exceed 25% of the Company’s market capitalization. The Company did not file a material change report in respect of the insiders’ participation at least 21 days before closing of the Offering because such participation had not been determined at that time.
About Solstar Space Company
Solstar is a U.S.-based space communications infrastructure company developing connectivity solutions for the rapidly growing space economy. The Company is focused on enabling on-demand communications for spacecraft, commercial space operators, government agencies and future space-based infrastructure through a combination of communications hardware, software, and services. Solstar’s Deke Space Communicator is currently operating on-orbit, supporting the Company’s mission of extending connectivity beyond traditional terrestrial networks.
About Encore Technologies Corp.
Encore Technologies Corp. is a technology-focused public company advancing intelligent infrastructure solutions and evaluating strategic opportunities in emerging technology sectors. The Company seeks to identify technologies and partnerships that have the potential to improve connectivity, operational efficiency and long-term infrastructure resilience.
For further information contact:
Stephen Kukucha
Chief Executive Officer
Tel: (604) 398-4786
Caution Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes statements regarding, the proposed Financing, the proposed Investment, the execution of definitive agreements, the use of proceeds, anticipated strategic benefits, potential future collaboration opportunities between Encore and Solstar, the completion of the transactions described herein, and other statements that are not historical facts. Forward-looking information is generally identified by words such as “expects,” “intends,” “anticipates,” “believes,” “plans,” “estimates,” “may,” “could,” “would,” “should,” and similar expressions. Forward-looking information reflects management’s current beliefs and assumptions and is subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied, including: the failure to obtain required regulatory approvals; the failure to complete the Financing or the Investment on the terms described or at all; changes in market conditions; the early stage of Solstar’s technology and business; risks inherent in the space industry; and general economic, market or business conditions. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise forward-looking information except as required by applicable law.
The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this news release.
Nguồn: GLOBENEWSWIRE – Đơn vị phát hành hoàn toàn chịu trách nhiệm về nội dung thông báo này.