Cover Technologies Inc. (CNSX:COVE) announced a non-brokered private placement of 15,095,000 units at issue price of CAD 0.265 per unit for gross proceeds of CAD 4,000,175 on February 12, 2021. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase an additional share of the company at an exercise price of CAD 0.75 per share for a period of two years from the closing of the transaction. If on any 10 consecutive trading days occurring after four months and one day has elapsed following the final closing date of the transaction, the closing price of the shares as quoted on the Canadian Securities Exchange is greater than CAD 1 per share, the company may provide notice in writing to the holders of the warrants that the expiry date of the warrants will be accelerated to the 30th day after the date on which the company issue release. The company may close the transaction in one or more tranches and my pay finder’s fee in relation to the transaction. The transaction is subject to approval from Canadian Stock Exchange. All the securities issued in the transaction are subject to a hold period of four months and one day from the date of issuance.