Auston Capital Corp. announced a private placement of 8,000,000 subscription receipts and units at a price of CAD 0.40 per subscription receipt for aggregate gross proceeds of CAD 3,200,000 on March 16, 2022. Each subscription receipt issued pursuant to the offering will entitle the holder thereof to receive, upon the satisfaction of the escrow release condition and without payment of additional consideration, one unit.

Each unit will comprise of one common share and one common share purchase warrant with each warrant entitling the holder thereof to purchase one additional common share at a price of CAD 0.75 per common share for a period of 36 months following the date of issue. The transaction has been conditionally approved from the TSX Venture Exchange. All securities to be issued are subject to a hold period of four months from the closing date of the transaction.