American Future Fuel Corporation announced a private placement of 11,111,111 units at a price of CAD 0.27 per unit for the gross proceeds of CAD 3,000,000 on December 11, 2023. Each Unit will consist of one common share of the company and one share purchase warrant exercisable at CAD 0.42 at any time on or before that date which is 36 months after the closing date of the offering. The agents will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the offering, to sell up to an additional 1,666,666 Units for additional gross proceeds of up to CAD 450,000.

The offering is scheduled to close on or around December 28, 2023 and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange.