Cannibble Food-Tech Ltd. announced that it has completed a non-brokered private placement comprised of 1,778,800 units at CAD 0.47 per unit for gross proceeds of CAD 836,036 on September 7, 2022. Each unit is composed of one ordinary share and one whole share purchase warrant. Each warrant is exercisable at CAD 0.70 per share for two years from the date of issuance.

In connection with the private placement, the company paid finder's fees of 8% cash and 8% finder warrants, with each finder's warrant entitling the finder to acquire one share at a price of CAD 0.47 for two years from the date of issuance. All securities issued in connection with the private placement are subject to a four-month and one day hold period under applicable securities laws.