BetterLife Pharma Inc has closed non-brokered private placement. The company issued 2,950,000 units at a price of CAD 0.10 per Unit for aggregate gross proceeds of CAD295,000 on August 31, 2023. Each Unit is comprised of one common share and warrant.

Each warrant entitles the holder thereof to acquire one common share at an exercise price of CAD0.10 at any time up of 24 months from the closing of the transaction. The Units sold pursuant to the Offering will be subject to a four month hold period pursuant to applicable Canadian securities laws. Ahmad Doroudian Chief Executive Officer of the Company subscribed for a total of 1,000,000 units under the transaction.