Cover Technologies Inc. (CNSX:COVE) announced a non-brokered private placement of 6,250,000 units at a price of CAD 0.32 per unit for gross proceeds of up to CAD 2,000,000 on November 25, 2020. Each unit consists of one common share and one-half of one transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional share at a price of CAD 0.50 for a period of twelve months from the closing date of the transaction, subject to an acceleration provision whereby if the shares trade at a price on the Canadian Securities Exchange (or such other exchange on which the shares may be traded at such time) of CAD 0.80 or greater per share for a period of 10 consecutive trading days after four months and one day from the closing of the transaction, the company may accelerate the expiry of the warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of Warrants) and, in such case, the warrants will expire on the 31st day after the date of such notice. The company may elect to close the transaction in one or more tranches. The transaction may include participation from the insiders of the company. The securities issued in the transaction will be subject to a restricted four-months plus one day hold period in accordance with applicable Canadian securities laws. The company may elect to pay a finder's fee to eligible finders in connection with applicable securities laws and Exchange policies in connection with the transaction. The transaction is subject to the transaction of the TSX Venture Exchange.