MinuteSkill Inc. (DBA OneCliq)

Technology
Toronto, Ontario, Canada
tanika@minuteskill.com
MinuteSkill SPV LP
MinuteSkill SPV LP

$125,007.00

125%
Funded Of $100,000.00 Goal
125% Raised
Accredited Investor Offer. Structure
- Days Left
$10,000.00 Min. investment
$100,000.00 Max. investment
N/A Minimum Raise
$150,000.00 Maximum Raise

Offering Description

Special Purpose Vehicle Terms

NOTE: You will need your Bank Account Number, Transit Number, and Institution Number to Invest.

This investment is only open to Accredited Investors, and immediate Friends, Family, and Close Business Associates of the issuer.  

To invest in MinuteSkill, you will be investing via a Special Purpose Vehicle (SPV) and not investing directly.  You will NOT appear on the cap table of the issuer.  

What is a Special Purpose Vehicle (SPV)?

A Special Purpose Vehicle is a corporation or limited partnership formed for a specific purpose.  In investing, a special purpose vehicle is typically used to allow smaller investors to pool their funds together in one company before then having that company invest in an underlying business.  The purpose of the SPV is to allow the underlying business to have few investors on its cap table and to consolidate the management of multiple smaller investors outside the main company.  

SPV Name: MinuteSkill SPV Limited Partnership

General Partner: 1000734971 Ontario Inc.

Managed by: Equivesto & Tanika McLeod (MinuteSkill)

Additional fees for SPV: None

SPV will invest all funds received directly into MinuteSkill

Minimum Raise: N/A - There is no minimum raise requirement

Target Raise: $150,000 for 150,000 Class B Units at $1.00 per Class B Unit.

Round Final Close: Jan 31, 2024 (the issuer may chose to close funds earlier than this date, and may have multiple closings).

Minimum investment amount: $10,000.00

Securities offered: Class B Units

Please see Limited Partnership Agreement for full details of the structure of the SPV and the rights of the units.  You must create an account on Equivesto to view attached documents.  Data Room available upon request.

Underlying Investment Terms

NOTE: You will need your Bank Account Number, Transit Number, and Institution Number to Invest.

This investment is only open to Accredited Investors, and immediate Friends, Family, and Close Business Associates of the issuer.  

This investment is via a SAFE (Simple Agreement for Future Equity). 

What is a SAFE?

A SAFE allows investors to invest funds at no fixed valuation, and instead have their investment convert into shares at a future investment date, where there will be a fixed valuation.  The SAFE agreement includes a Valuation Cap, so that no matter the valuation of the future round, the number of shares they are given will be based on the pre-set fixed valuation cap.  To reward investors for investing earlier, investors will have a discount rate applied to their investment at the future valuation date, which further discounts the potential future valuation and rewards SAFE investors with more shares.  If there is no future investment round, SAFE investors have priority over other investors and shareholders if the company is closed or sold.  

Post-money valuation Cap (After investment received): USD $5,000,000

Discount Rate: 0% (meaning your investment will convert at 100% of the value of the future valuation at the time of conversion)

Minimum Raise: N/A - There is no minimum raise requirement

Max Raise: $200,000 for 200,000 SAFE Units (convertible into Preferred Shares) at $1.00 per SAFE Unit.

Round Final Close: Jan 30, 2024 (the issuer may chose to close funds earlier than this date, and may have multiple closings).

Minimum investment amount: $10,000.00

Securities offered: SAFE Units that convert into Preferred Shares

Please see SAFE Agreement and Articles of Incorporation for full details of rights associated with the SAFE Units & Preferred Shares.  You must create an account on Equivesto to view attached documents.  Data Room available upon request.

04/23/2024
Project launched

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