Albert Labs International Corp. announced a non-brokered private placement of 37,500,000 units at a price of CAD 0.08 per unit for gross proceeds of up to CAD 3,000,000 on November 24, 2022. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of CAD 0.12 for a period of twelve months. In the event that the company's common shares have a closing price on the Canadian Securities Exchange of greater than15 cents per common share for a period of 10 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the 30th day after the date on which such notice is given to the holder by the company. All securities issued in connection with the offering 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.

On the same date, the company received its first tranche. The tranche issued at a price of CAD 0.08.