Legible Inc. announced a non-brokered private placement of units at a price of CAD 0.12 per unit for the gross proceeds of CAD 1 million on October 6, 2023. Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of CAD 0.15 on the date that is one year from the closing date. The transaction is expected to on or about October 16, 2023, subject to customary closing conditions and may be closed in tranches.

As a part of the transaction the company will pay a finder?s fee of up to 8% of the gross proceeds of the offering and finder?s warrants may be issued in an amount up to 8% of the number of common shares sold under the offering.