SCHEDULE: Ionic Ventures Amends Biotricity Stake to 9.99%

Ionic Ventures and its affiliates updated their beneficial ownership in Biotricity Inc. to 9.99% of common stock, including convertible preferred shares.

Summary

• Ionic Ventures, LLC, Ionic Management, LLC, Brendan O'Neil, and Keith Coulston (collectively, the "Reporting Persons") have filed Amendment No. 5 to their Schedule 13G.
• The Reporting Persons collectively beneficially own 2,926,171 shares of Biotricity Inc. common stock, representing 9.99% of the class.
• This ownership percentage is based on 26,567,769 shares of common stock outstanding as of August 13, 2025, as disclosed in Biotricity's Form 10-Q for the period ended June 30, 2025.
• The beneficial ownership consists of 202,937 shares of common stock directly held by Ionic Ventures and up to 2,723,234 shares of common stock issuable upon conversion of Series B Convertible Preferred Stock.
• Conversion of the Preferred Stock is subject to a 9.99% beneficial ownership limitation provision (the "Blocker") and limitations on the number of Conversion Notices that can be delivered.
• Due to the Blocker, 1,522,049 potential conversion shares are not deemed beneficially owned.
• Additionally, 2,547,169 potential conversion shares are not deemed beneficially owned due to limitations on Conversion Notices within 60 days of September 30, 2025.
• The Reporting Persons share voting and dispositive power over the 2,926,171 beneficially owned shares.

Sentiment

Score: 5

Explanation: The filing is a factual update on beneficial ownership and does not contain information that would significantly alter the company's perceived value or operational outlook. It is a routine regulatory disclosure.

Risks

• The 9.99% beneficial ownership limitation (the "Blocker") restricts Ionic Ventures from converting its Series B Convertible Preferred Stock into common stock if such conversion would result in beneficial ownership exceeding 9.99% of the total outstanding common stock.
• Limitations on the number of Conversion Notices that may be delivered by Ionic Ventures within a 60-day period also restrict the full conversion of Preferred Stock into common stock.

Future Outlook

The ability of Ionic Ventures to convert its Series B Convertible Preferred Stock into common stock is subject to a 9.99% beneficial ownership limitation and restrictions on the number of conversion notices that can be delivered within a 60-day period.

Industry Context

This filing is a routine update of beneficial ownership by a significant shareholder group, which is common in the public markets and does not inherently reflect broader industry trends or competitive positioning.

Stakeholder Impact

• Existing common shareholders could experience future dilution if the convertible preferred stock is converted into common stock, although the 9.99% blocker limits immediate significant dilution from this specific holder.
• The Reporting Persons, as significant shareholders, maintain a substantial stake, which could influence corporate governance matters, particularly if they choose to nominate directors under Rule 14a-11.

Next Steps

• Ionic Ventures may convert additional shares of Series B Convertible Preferred Stock into common stock in the future, subject to the 9.99% beneficial ownership limitation and other conversion restrictions.

Key Dates

Keywords

Biotricity Inc., Ionic Ventures, Schedule 13G, Beneficial Ownership, Common Stock, Convertible Preferred Stock, SEC Filing, Shareholder, Ownership Limitation, Form 10-Q