Immutable Holdings Inc. announced a private placement of 3,846,153 units at a price of CAD 2.6 per share for gross proceeds of CAD 10,000,000 on November 23, 2021. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase a common share at a price of CAD 4 per share until 36 months from closing, subject to adjustment if the volume weighted average trading price of the common shares on the NEO Exchange is equal to or greater than CAD 8.00 for a period of 20 consecutive trading days at any time following the date which is four months and a day after closing date the company may, at its sole option, accelerate the expiry date of the warrants by giving notice to the holders thereof and in such case the warrants will expire on the date which is the earlier of: (i) the 60th day after the date on which such notice is given by the company; and (ii) the expiry date. The company also granted over-allotment option to increase the size of the transaction by up to an additional 15 per cent of the units sold. The transaction is subject to certain conditions including but not limited to the receipt of all necessary regulatory and other approvals including the approval of the NEO Exchange. The transaction is scheduled to close in the week of December 13, 2021.