") is pleased to announce, due to strong investor demand, a slight increase of 2 million additional units to its current non-brokered private placement offering, whereby the first increase was announced on December 17, 2024. . As a result of this increase, the the Company expects to close its current offering with the issuance of 17 million units . Each whole Warrant will entitle the holder to acquire an additional Common Share at an exercise price of $0.
The Company anticipates closing the Offering on December 24, 2024. All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws. The Company previously closed a tranche with similar terms and conditions on November 28, 2024 for gross proceeds of $496,000 by way of issuance of 8,266,667 Units.
The Company may pay a cash commission of up to 8% of the gross proceeds raised in the Offering to eligible finders, agents, or brokers. In addition, the Company may issue compensation shares equal to 4% of the number of Common Shares issued at a deemed price of $0.06 per Common Share, and finder's warrants exercisable for 60 months at an exercise price of $0.10, representing 4% of the aggregate number of Units issued.
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