Danavation Technologies Corp. announced a non-brokered private placement of up to 9,000,000 units at a price of CAD 0.10 per unit for the gross proceeds of up to CAD 900,000 on November 20, 2023. Each unit is comprised of one common share in the capital of the company and one-half of a common share purchase warrant.

Each whole warrant entitles the holder thereof to acquire one common share to be issued on the due exercise of the warrant at a price of CAD 0.15 per warrant share for twenty-four months from the date of the closing of the transaction. All securities issued pursuant to the Private Placement will be subject to a four month hold period from the date of issuance. The transaction is subject to the approval of all customary regulatory and board approvals of the company.