Bhang Inc. announced a non-brokered private placement of 22,147,400 units at a price of CAD 0.055 per unit for gross proceeds of CAD 1,218,107 on December 17, 2021. Each unit consists of one subordinate voting common share and one half of common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.1 per share for a period of 18 months from the date of closing. The securities are being subject to four months and one day hold period expiring on April 18, 2022. In connection with the transaction, the company paid, to a finder, a cash commission of approximately CAD 25,014 in relation to the gross proceeds of the transaction raised from subscribers introduced to the company by such finder. The company also issued an aggregate of 454,800 finder warrants to the finder with each finder warrant entitling the holder thereof to acquire one common share at an exercise price of CAD 0.10 for a period of 18 months following the closing of the transaction.