Refined Energy Corp. announced a non brokered private placement to issue 5,000,000 units at an issue price of CAD 0.30 per unit for the gross proceeds of CAD 1,500,000 on July 15, 2024. Each unit being composed of one share and one share purchase warrant of the company, entitling the holder to acquire one share at a price of CAD 0.50 per warrant share for a period of 24 months from the date of issuance.

All securities issued pursuant to the offering will be subject to a statutory four-month-and-one-day hold period. Closing of the offering is subject to the satisfaction of certain customary conditions precedent, including the company's receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange. The offering is expected to close on or about August 16, 2024.