Great Quest Fertilizer Ltd. announced a non brokered private placement of up to 4,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 200,000 on February 8, 2022. Each unit shall consist of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share in the capital of the Company at a price of CAD 0.10 per warrant share for a period of two years following the closing date, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period the Shares trade at CAD 0.20 or higher on the TSX Venture Exchange for a period of 10 consecutive days, the company shall have the right to accelerate the expiry date of the warrants to the date that is 30 days after the company issues a news release announcing that it has elected to exercise the acceleration right.

All of the securities issued pursuant to the private placement will be subject to a four month and one day hold period from the date of issue. The transaction is expected to close on or about February 18, 2022. The transaction is subject to the approval of the TSXV.

The company may pay finder's fees in accordance with the rules and policies of the TSXV.