Eguana Technologies Inc. announced a non-brokered private placement of up to 50,000,000 units of the company at a price of CAD 0.04 per Unit, for aggregate gross proceeds of up to CAD 2,000,000 on November 23, 2023. The company has the option, in its sole discretion, to increase the size of the offering to up to CAD 2,500,000. Each Unit shall be comprised of one common share and one common share purchase warrant.

Each warrant will entitle the holder thereof to purchase one additional common share at a price of CAD 0.06 per common share for a period of 24 months following the closing date of the offering. In connection with the offering, the company may pay a finder's fee in cash or securities or a combination of both, as permitted by the policies of the TSXV. The closing of the offering is expected to occur in one or more tranches, with the first tranche expected to close on or about November 30, 2023.

The units and any securities issuable upon conversion thereof will be subject to a statutory hold period of four months and one day from the date of issuance of the units. The transaction is subject to final approval by the TSXV.