Big Tree Carbon Inc. announced a brokered private placement of up to 10,000,000 working capital units of the company at a price of CAD 0.05 per unit for gross proceeds of up to CAD 500,000 on March 31, 2023. Each WC unit consists of one common share of the company and one common share purchase warrant. Each WC warrant entitles the holder to acquire one common share until two years from the closing of the transaction at a price of CAD 0.06.

The Company has agreed to pay IBK Capital a commission of 8% cash and issue broker warrants equal to 10% of the number of WC units sold under the transaction. Each Broker Warrant entitles the holder to acquire a WC unit for two years from closing at a price of CAD 0.05 per Broker Warrant. All securities to be issued pursuant to the above-referenced private placement will be subject to a statutory four month and one day hold period.

The transaction is subject to approval from the TSX Venture Exchange.