Carbeeza Inc. announced a non-brokered private placement of up to 12,500,000 units at a price of CAD 0.20 per unit for the aggregate gross proceeds of CAD 2,500,000 on March 20, 2023. Each unit will consist of one common share and one full common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.25 per share within18 months after closing.

The transaction is subject to receipt of all required regulatory and TSX Venture Exchange approvals. The transaction is expected to close on or around May 2023.