Nirvana Life Sciences Inc. announced a non-brokered private placement of 500,000 units at a price of CAD 0.30 per unit for gross proceeds of CAD 150,000 from returning investor ThreeD Capital Inc. on June 1, 2022. Each unit consists of one share and one warrant to purchase a share at a price of CAD 0.50 per share with an expiry date of May 29, 2025. The shares issued will be subject to a statutory four-month hold period.

Immediately prior to the transaction, investor owned and controlled an aggregate of 4,500,000 common shares of the company representing approximately 13.6% of all issued and outstanding common shares of the company on a non-dilutive and partially dilutive basis. Post-closing the transaction, the company owned and control an aggregate of 5,000,000 common shares and 500,000 warrants of company, representing approximately 14.5% of all issued and outstanding common shares of the company.