EnviroMetal Technologies Inc. announced a private placement of convertible notes for gross proceeds of CAD 215,200 on February 28, 2023. The notes will bear an interest at rate of 12% per annum. The notes will mature 120 days from the date of issuance.

The notes will be convertible into units. Each maturity unit will consist of one common share of the company and one share purchase warrant. Each Warrant will be exercisable into one common share of the company for a period of two years from the maturity date at a price of CAD 0.15 per share if converted within one year of the maturity date and at a price of CAD 0.24 if exercised more than one year following the maturity date.