Grounded People Apparel Inc. announced a non-brokered private placement of 3,750,000 units at a price of CAD 0.80 per unit for the gross proceeds of CAD 3,000,000 on April 9, 2024. Each unit will consist of one common share and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional Share of the company for a period of five years from issuance, at a price of CAD 1 per warrant share.

Closing of the first tranche of the Private Placement is anticipated to occur on or about April 17, 2024. Pursuant to applicable securities laws, all securities issued under the Private Placement will be subject to restrictions on resale for a period of four months and one day. The company does not anticipate paying any finder?s fees related to the Private Placement.