Grounded People Apparel Inc. announced the it has closed a non-brokered private placement of up to 4,464,286 units at a price of CAD 0.56 per unit for gross proceeds of up to CAD 2,500,000 on January 13, 2023. The transaction included participation from returning investor Right Season Investments Corp. Each unit consists of one common share and one warrant.

Each whole warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.70 per share at any time within 2 years after closing. The company issued 44,643 common shares to a third-party in consideration for administrative services rendered in support of the private placement. All securities to be issued in the transaction will be subject to a 4 month and one day hold period.