Firehouse Holdings Inc. has entered into an amendment to the loan agreement entered into on October 12, 2021 between Firehouse and a current shareholder of the Company which, among other things, extends the term of the USD 750,000 debt financing to February 28, 2022, with an optional extension for an additional 30 days in exchange for the issuance to the Lender of 500 series A purchase warrants, among other additional fees. Each Warrant is exercisable to acquire 1 series A multiple voting share at an exercise price equal to USD$8.00 per share for a period of two years from January 25, 2022. Each Series A Share is convertible into 100 subordinate voting shares of the Company.

The proceeds of the Loan are being used to pay down existing liabilities and for general working capital purposes. The securities issued pursuant to the Amendment are subject to a statutory hold period expiring May 26, 2022.