Cannabotech LTD announced a private placement of 17,778 common shares under simple agreement for future equity at an issue price of ILS 13.50 per share for gross proceeds of NIS 240,003 along with 35,556 warrants on April 14, 2023. The transaction included participation from four investors for 4,444 shares and 8,888 warrants, 2,222 shares and 4,444 warrants, 3,704 shares and 7,408 warrants, 7,408 shares and 14,816 warrants respectively. The transaction has been approved by board of directors of the company and is subject to approval of Tel Aviv Stock Exchange.

The warrants are exercisable into common shares from the date of their issuance until December 31, 2023 at an exercise price of ILS 55 per warrant.