1CM Inc. announced a non-brokered private placement to 3,333,333 common shares at the price of CAD 1.50 per share for gross proceeds of up to CAD 4,999,999.5 on June 9, 2023. The transaction will include participation from certain "accredited investors". The company expects the balance to be completed within 30 days.

All securities issued in the transaction are subject to a statutory four month hold period. The shares will be offered on a private placement basis in certain provinces and territories of Canada pursuant to applicable exemptions from the prospectus requirements of Canadian securities laws. On the same date, the company issued 2,000,000 common shares at a price of CAD 1.50 per share for gross proceeds of CAD 3,000,000 in its first tranche closing.