Braxia Scientific Corp. announced a private placement of up to 27,272,727 units for aggregate gross proceeds of up to CAD 1,499,999.985 on February 7, 2023. Each unit will be comprised of one common share and one common share purchase warrant.

Each warrant entitles the holder thereof to purchase one additional common share at a price of CAD 0.07 per common share for a period of three years following the issuance of each warrant. The transaction will include participation from Roger McIntyre for 3,181,818 units for aggregate gross proceeds of CAD 175,000. The placement units will be offered to purchasers resident in each of the Provinces of Canada, except Quebec, and may also be offered by way of private placement in the United States and such other jurisdictions as may be determined by the company.

The closing dates is expected to occur on or about February 20, 2023, or such later date or dates as the company may determine, and are subject to certain conditions including, but not limited to, the receipt of a minimum gross proceeds of CAD 750,000 and of all necessary approvals. The transaction may each be closed in one or more tranches. The company will receive CAD 990,910.438 pursuant to Regulation D.