Canada Energy Partners Inc. announced a non-brokered private placement of up to 25,000,000 common shares at an issue price of 0.01 per share for the gross proceeds of CAD 250,000 on May 8, 2024. The company intends to pay eligible finders 8% cash commission and issue warrants to purchase shares at an exercise price of CAD 0.05 for a period of 12 months. The company may also increase the cash commission to 10% for registered dealers.

The terms of all commissions are subject to applicable securities laws and approval of the TSX Venture Exchange. The company is seeking approval of the TSX-V for temporary relief from the minimum pricing restrictions to issue shares at one cent. The closing of the offering is subject to approval of the TSX-V and all shares issued under the offering will be subject to a four-month hold period in accordance with applicable securities laws.