ABOUND Energy Inc. announced a non brokered private placement consisting of the issuance of up to 4,285,714 units at an issue price of CAD 0.35 per Unit to raise aggregate gross proceeds of up to CAD 1,499,999.9 on February 14, 2024. Each Unit will consist of one common share and one-half of a common share purchase warrant. Each whole Warrant will be exercisable for a period of two years from the closing date and will be transferable; each whole Warrant will entitle the holder to purchase one additional Share in the capital of the Company at an exercise price of CAD 0.50 per Share during the Term of the Warrants.

Finder's fees and/or commissions may be paid in connection with that funding. All securities issued pursuant to the Offering will be subject to a hold period of four months and a day from the closing date in accordance with securities laws. The Company does not intend to obtain securityholder approval for the Offering in reliance on the exceptions outlined in section 4.6(2)(b) of Policy 4 of the Exchange.