GOAT Industries Ltd. announced a non-brokered private placement of up to 11,615,384 units at a price of CAD 0.065 per unit for the gross proceeds of up to CAD 755,000 on November 8, 2023. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will be exercisable to acquire one common share at a price of CAD 0.085 per warrant share for a period of two years after the closing date the Private Placement, subject to adjustment in certain events.

The company may pay finder?s fees under the Private Placement as permitted by the policies of the CSE and applicable securities laws. The units will be issued on the same terms and condition as the Private Placement and will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue. The company agreed to satisfy this outstanding indebtedness with units to preserve its cash for working capital.

The Private Placement is expected to close concurrently on or about November 16, 2023, subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals.