Gallagher Security Corp. announced a non-brokered private placement of 10,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 500,000 on June 16, 2023. Each unit will consist of one common share and one share purchase warrant.

Each warrant exercisable into one additional common share at a price of CAD 0.06 per share for a 3-year period. All shares issued under the private placement will be subject to a hold period of four months and one day from the date of issuance. The transaction is subject to approval of Canadian Securities Exchange.

Finders' fees may be paid in accordance with securities regulations. Certain Common Shares may be issued separate from Units for the settlement of bona fide debt owed by the Company.