Vecima Networks Inc. announced a brokered private placement of 833,200 subscription receipts at a price of CAD 21 per receipt for the gross proceeds of CAD 17,497,200 and a non-brokered private placement of 476,190 subscription receipts at a price of CAD 21 per receipt for the gross proceeds of CAD 9,999,990, for total gross proceeds of CAD 27,497,190 on May 28, 2024. The Financing is expected to close on May 29, 2024. Each Subscription Receipt shall, upon satisfaction of the Escrow Release Conditions and without the payment of any additional consideration, automatically convert into one common share of the company.

The Subscription Receipts will be subject to the four month hold period in accordance with applicable Canadian securities laws. The Financing is subject to receipt of approval of the Toronto Stock Exchange.