Reklaim Ltd. announced a non-brokered private placement of up to 28,571,428 units at a price of CAD 0.035 per unit for aggregate gross proceeds of up to CAD 999,999.98 on November 30, 2022. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of CAD 0.10 for a period of 36 months following the closing of the transaction.

In the event that the volume-weighted average trading price of the common shares on the TSX Venture Exchange is more than CAD 0.15 for a period of 20 consecutive trading days, the company may accelerate the expiry date of the warrants to 30 days from the date on which it provides written notice to the holders of the warrants. Closing of the transaction is subject to the approval of the TSXV. Closing of the transaction is intended to occur on or around December 15, 2022.

The company will pay CAD 80,000 as finder's fees to Research Capital Corporation.