Molecule Holdings Inc. announced a non-brokered private placement of 75,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 3,750,000 on September 28, 2022. The transaction will be led by one or more of the shareholders of Canna-Day Development Inc. and is anticipated to include other family, friends and business associates of the company. Each unit will consist of one common share and one half of one common share purchase warrant of the company.

Each full warrant will be exercisable for one common share at an exercise price of CAD 0.10 per share for a period of two years from the closing date. The closing of the transaction will be conditional on minimum of CAD 3,500,000 being raised, with the lead investors having a minimum investment of CAD 2,000,000, and all relevant corporate and regulatory approvals being obtained, including, but not limited to, required corporate approvals, approval of Canadian Securities Exchange, if necessary, and Health Canada approval, if necessary, and the appointment of a nominee of Canna-Day Development Inc. to the board of directors of the company. All securities to be issued will be subject to a statutory hold period of four months and one day from the date of issuance.