Swarmio Media Holdings Inc. announced a private placement of unsecured convertible note for gross proceeds of $1 million on September 15, 2022. The transaction included participation from new investor, Apelby Communications. The convertible note bear an interest rate of 10% per annum.

Shares of the company acquired on conversion will be subject to a four-month plus one day hold period from the date of advance. The completion of the private placement and payment of any commission and fees remains subject to the receipt of all necessary approvals, including the approval by the Canadian Securities Exchange.