CENTR Brands Corp. announced a non-brokered private placement of 16,666,667 units at issue price of CAD 0.3 per unit for gross proceeds of CAD 5,000,000 on February 15, 2023. Each unit will consist of one common share of the company and one common share purchase warrant.

Each warrant will entitle the holder thereof to purchase one common share of the company at an issue price of CAD 0.5 per warrant share at any time the date which is three years after the closing date of the offering, subject to adjustment in certain events. If, at any time following the closing date, the daily volume weighted average trading price of the common shares on the Canadian Securities Exchange is greater than CAD 0.7 per common share for a period of 5 consecutive trading days, the company shall have the right to accelerate the expiry date of the warrants to a date not less than 30 days after the later of the date that notice of such acceleration is provided to the warrant holders; and the date of issuance of a press release disclosing the occurrence. The offering will also be conducted in the United States and certain foreign jurisdictions pursuant to applicable securities laws.

The offering is scheduled to close on or about March 31, 2023, or such other date not exceeding 45 days from the date hereof, as determined by the company. The closing of the offering is subject to receipt of all regulatory approvals, including approval of the Canadian Securities Exchange.