SpotLite360 IOT Solutions, Inc. announced a non-brokered private placement of 3,500,000 units at a price of CAD 0.10 for gross proceeds of up to CAD 350,000 on September 28, 2022. Each unit comprise one common share and one half of transferable share purchase warrant, with each full warrant entitling the holder to purchase one common share at a price of CAD 0.20 per share for a period of twenty-four from the date of issuance. All securities issued are subject to a statutory four month and one day hold period that expires on January 24, 2023.

In connection with the Private Placement, the company has paid cash finder's fees of CAD 10,500 and it has issued 105,000 warrants on the same terms as noted above to qualified parties.