Alpha Metaverse Technologies Inc. announced a best efforts, brokered private placement of up to 16,000,000 units at a price of CAD 0.25 per unit for gross proceeds of up to CAD 4,000,000 on January 24, 2022. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will be exercisable to acquire one additional common share at an exercise price of CAD 0.40 per warrant share for a period of 24 months after the closing.

The Offering is expected to close on or about February 21, 2022, or on such other date as agreed upon between the Company and Agent, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals. The units and other securities to be issued under the Offering will have a hold period expiring on the date that is four months and a day from closing.