Axcap Ventures Inc. announced a non-brokered private placement to issue 70,000,000 units at an issue price of CAD 0.06 per unit for the gross proceeds of CAD 4,200,000 on July 5, 2024. Each unit will consist of one common share nd one common share purchase warrant. Each warrant will entitle the holder thereof to acquire an additional common share at an exercise price of CAD 0.72 per warrant share for a period of five years from the date of issuance.

All securities issued in connection with the offering will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation. There is no minimum number of units or minimum aggregate gross proceeds required to close the offering, and the company may, at its discretion, elect to close the offering in one or more tranches.