Advance United Holdings Inc. announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.05 per unit and up to 3,571,428 flow-through units at a price of CAD 0.07 per flow-through unit for aggregate gross proceeds of up to CAD 500,000 on February 28, 2023. Each unit shall be comprised of one common share and one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.10 per common share for a period of five years from date of issuance.

Each flow-through unit shall be comprised of one common share, issued on a flow- through basis and one common share purchase warrant, issued on a non-flow-through basis. Each flow-through warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.10 per common share for a period of five years from date of issuance. All securities issued pursuant to the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

The closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.