Klimat X Developments Inc. announced a non-brokered private placement to raise gross proceeds of up to CAD 1,000,000.05 consisting of 6,666,667 units offered at a price of CAD 0.15 per Unit on August 15, 2023. Each Unit will be comprised of one common share and one common share purchase warrant. Each Warrant will be exercisable at a price of CAD 0.25 into one common share for a period of 24 months from the date of issuance.

The transaction is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange. The securities issued under the transaction will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the transaction.