Hill Street Beverage Company Inc. announced a non-brokered private placement of up to 17,500,000 units at an issue price of CAD 0.04 per unit for gross proceeds of up to CAD 700,000 on December 14, 2022. Each unit is comprised one Common Share and one common share purchase warrant. Each Warrant will be exercisable to acquire one common share of the Company for a period of 24 months following the closing date of the transaction at an exercise price of CAD 0.05 per Common Share, subject to adjustment in certain events and acceleration by the Company in the event that the volume weighted average trading price of the common shares on the TSX Venture Exchange is greater than or equal to CAD 0.08 for a period of ten consecutive days.

The transaction is subjected to oversubscription at the option of the Company. The Offering is already fully subscribed and closing of the transaction is expected to occur on or about December 21, 2022, subject to the final approval of the TSX Venture Exchange. All securities issued in transaction will be subject to a statutory four-month and one-day hold period under applicable Canadian securities laws.

Insiders of the Company have subscribed for CAD 232,000 worth of units in the transaction, representing 32% of the transaction.