Albert Labs International Corp. announced a non-brokered private placement of 37,500,000 units at an issue price of CAD 0.08 per unit for the gross proceeds of up to CAD 3,000,000 on April 24, 2023. Each Unit is comprised of one common share and one-half of one whole common share purchase warrant and each full warrant will be exercisable to acquire one common share of the company at an exercise price of CAD 0.12 for 12 months from the date of issuance.

In the event that the company's common shares have a closing price on the CSE of greater than CAD 0.15 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 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.