Gallagher Security Corp. announced a non-brokered private placement of 21,428,571 units at an issue price of CAD 0.07 per unit for the gross proceeds of CAD 1,500,000 on July 7, 2023. Each Unit will consist of one common share and one Common Share purchase warrant.

Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of CAD 0.11 per warrant share for a period of 24 months following the Closing Date. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the Canadian Securities Exchange. The transaction is expected to close on or about July 28, 2023.