ARHT Media Inc announced a private placement to issue non convertible secured subordinated debentures for the gross proceeds of CAD 2,030,000 on August 3, 2023. The Debentures mature on August 3, 2025 and carry an annual interest rate of 15%, accrued and payable semi-annually on each of June 30 and December 31, payable in cash or shares at the option of the Company and subject to the approval of the TSX Venture Exchange The principal amount of the Debentures are not convertible into common shares or any other securities of the Company. The Debentures are subject to a four-month statutory hold period commencing on the date of their issuance.

The transaction included participation from officers and directors for CAD 763,000. The Company has paid an aggregate of CAD 11,100 in cash and issued an aggregate of 100,000 common shares as finders' fees to certain finders in accordance with TSX Venture Exchange policies.