Cloud DX Inc. announced a non-brokered private placement of 1,750 secured convertible debentures at a price of $1,000 per convertible debenture for aggregate gross proceeds of up to $1,750,000 on June 6, 2022. The Debentures will mature on the date that is 12 months from the date of issuance and shall bear interest at a simple rate of 18% per annum, payable upon the earlier of the conversion date or the Maturity Date. The principal amount of the debenture is convertible, at the election of the holders, into common shares in the capital of the corporation at a conversion price of CAD 0.15($0.119263) per common share at any time prior to the maturity date.

The debentures will be secured against all present and after-acquired personal property of the corporation, pursuant to a general security agreement. may pay finder's fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. Closing of the Offering is expected to occur in one or more tranches, with the first tranche expected to close on or about June 24, 2022.

The convertible debentures and any securities issuable upon conversion will be subject to a statutory hold period of four months and one day from the date of issuance of the convertible debentures. The transaction is subject to final approval from the TSX Venture Exchange.