Izotropic Corporation announced a non-brokered private placement of 2,500,000 units at an issue price of CAD 0.40 per unit for gross proceeds of CAD 1,000,000 on November 10, 2022. Each unit consist of one common share and one-half of one transferable common share purchase “A” warrant and one-half of one transferable common share purchase “B” warrant. Each A Warrant will entitle the holder thereof to acquire one Share at a price of CAD 0.70 per A Warrant Share for a period of two years following the closing and each B Warrant will entitle the holder thereof to acquire one Share at a price of CAD 0.80 per B Warrant Share for a period of two years following the closing, subject to the terms and conditions contained in the applicable warrant certificate.

The Company paid an aggregate of CAD 25,942 and issued and aggregate of 64,855 broker warrants in connection with the closing. Each broker warrant will entitle the holder to purchase one additional share at a price of $0.40 per share for a period of two years from closing. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.

The company has raised CAD 45,000 pursuant to Regulation D in the transaction from three investors.