Solvbl Solutions Inc. announced a non-brokered private placement of up to 15,000,000 units of company at a purchase price of CAD 0.05 per unit for aggregate gross proceeds of up to CAD 750,000 on October 11, 2022. Each unit will consist of one common share of the company and one common share purchase warrant, with one whole warrant entitling the holder to purchase one additional common share of the company at a purchase price of $0.12 per warrant share for a period of twenty-four months from the date of closing. The completion of the transaction, including the issuance of any finders' fee, is subject to certain customary conditions, including the receipt of all necessary regulatory approvals and acceptance of the Canadian Securities Exchange.

Pursuant to Canadian securities laws, any securities issued in the transaction will be subject to a hold period of four months plus one day from the date of issuance. The transaction is expected to include subscriptions, either directly or indirectly, from certain company's senior management and insiders for an expected aggregate amount of up to 15% and it is also anticipated that the transaction will include subscriptions from strategic investors throughout North America and the United Kingdom comprising of key executives from the film, media & digital entertainment industries. The company may pay a finder's fee in connection with the transaction to eligible finders comprised of a fee payable in cash equal to up to 8.0% of the gross proceeds raised in the transaction from investors introduced by the applicable finder; and such number of transferrable warrants that is equal to up to 8.0% of the number of units sold to investors introduced by such finder.