Albert Labs International Corp. announced a non-brokered private placement of 6,250,000 units at an issue price d CAD 0.048 per unit for the gross proceeds of CAD 300,000 on February 13, 2023. Each Unit is comprised of one common share and one non-transferable Common Share purchase warrant and each full Warrant will be exercisable to acquire one common share of Albert Labs at an exercise price of CAD 0.07 for 24 months from the date of the closing of the transaction.

The Company may decrease the size of the transaction. All securities issued in connection with the transaction will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The transaction is subject to regulatory approval in the United Kingdom and IND filing in the United States.