Germinate Capital Ltd. announced a private placement of units at a price of CAD 0.3 per unit for gross proceeds of CAD 2 million on July 6, 2021. Each unit will be comprised of one common share and one-half of a non-transferable common share purchase warrant. Each Warrant will entitle the holder to acquire one common share of the company at CAD 0.60 for a 24-month period. All of the securities issued in the private placement will be subject to a four-month hold period from the date of closing.