Canadian publicly listed company Spetz Inc. (CSE:SPTZ) announced the completion of the previously announced first round of non-brokered private placement, issuing 14.7 million units (each unit consisting of one common share and one-half warrant) at an offering price of $0.50 per unit, raising a total of $7,351,308.50. Each whole warrant entitles the holder to purchase one common share at $0.75 within 24 months. The funds raised in this round will be used for general working capital, validator node expansion, and growth strategies related to Sonic blockchain infrastructure. Spetz CEO Mitchell Demeter stated that the funds will be used to acquire Sonic tokens, deploy validator nodes to support the security of the Sonic network, and participate in DeFi strategies within the Sonic ecosystem. Investors include Canaccord Genuity Financial, Haywood Securities, Sonic Labs, among others. The private placement is expected to complete the remaining portion by June 23, with a total fundraising target of $10 million. The company paid $316,000 in commissions to seven securities firms and issued a total of up to 719,500 warrants. In addition, board member Michael Kron participated in this round of private placement with $50,000, constituting a related-party transaction but qualifying for exemption and not requiring minority shareholder approval.