MedBright AI Investments Inc. announced that it has entered into an agreement with Canaccord Genuity Corp. who acted as a lead agent and syndicate including Beacon Securities Limited and PI Financial Corp. on a reasonable efforts basis to issue 6,994,887 units at an issue price of CAD 0.20 per unit for the gross proceeds of CAD 1,398,977.40 and 7,000,000 special warrants at an issue price of CAD 0.20 per warrant for the gross proceeds of CAD 1,400,000; aggregate gross proceeds of CAD 2,798,977.4 on January 24, 2024.

Each LIFE Unit will consist of one common share and one half of one common share purchase warrant. Each Special Warrant Unit will consist of one Common Share and one Warrant. Each Warrant will entitle the holder thereof to purchase one Common Share for a period of 24 months following the Closing Date at an exercise price of CAD 0.30 per Warrant Share.

The Warrants will be issued pursuant to the terms of a warrant indenture to be entered into between the Company and a warrant trustee. The Offering may be conducted in the United States pursuant to exemptions from the registration requirements under Rule 144A and/or Regulation D of the United States Securities Act of 1933, as amended (the "1933 Act"), subject to receipt of all necessary regulatory approvals, and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction. The LIFE Units will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

The Special Warrant Units will be subject to a statutory hold period of four months in accordance with applicable Canadian securities laws. The Offering is anticipated to close on or about February 7, 2024, or such other date as may be agreed upon by the Company and the Lead Agent, and completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.