BlueRush Inc. announced a non-brokered private placement of up to 68 units of the company at a price of CAD 15,000 per unit for the gross proceeds of CAD 1,020,000 on June 18, 2024. Each unit shall consist of (i) 500,000 common shares of the company at a deemed price of CAD 0.02 per common share, (ii) 500,000 transferable common share purchase warrants, with each warrant entitling the holder thereof to acquire one additional common share at a price of CAD 0.05 per common share until the date that is 60 months from the closing, and (iii) a CAD 5,000 principal amount 10.0% unsecured convertible debentures with each convertible debenture maturing on the date which is 60 months from closing and convertible into common shares at a conversion price of CAD 0.05 per common share in the first year and CAD 0.10 per common share in years two to five. In connection with the issue and sale of the units pursuant to the offering, the company may pay registered dealers and finders a cash commission equal to 8% of the aggregate gross proceeds under the offering.

All securities issued pursuant to the offering will be subject to a four-month hold period pursuant to securities laws and the policies of the TSXV. Closing of the offering is subject to, amongst other things, prior approval of the TSXV.