Quantifind, Inc. announced that it will issue 42,251,149 series B preferred shares at an issue price of $0.50313 for gross proceeds of $21,257,820.59637, 13,250,385 series B-2 preferred shares at an issue price of $0.3773475 for gross proceeds of $5,000,000, and 1,475,115 series B-3 non-voting preferred shares at an issue price of $0.50313 for gross proceeds of $742,174.60995, for aggregate proceeds of $27,000,000 on January 13, 2023. The company has entered into series B preferred shares purchase agreement with investors in the transaction. The preferred shares have a par value of $0.00001 per share.

The preferred shares are non-redeemable and non-participating. The preferred shares carry non-cumulative participating fixed dividend value of $0.0402504, $0.0301878, $0.0402504 per annum per share, and will be convertible in common shares at a fixed conversion price of $0.50313, $0.3773475, and $0.50313 per share each respectively.