Mapath Capital Corp. announced a non-brokered private placement to issue 10% Convertible notes for the gross proceeds of CAD 100,000 on July 25, 2023. The Notes will bear interest at the rate of 10% per annum with a 24-month term and are convertible during the Term at the option of the holder to acquire units at a price of CAD 0.04 per Unit for a period of one year from the issuance of the Notes and one common share of the Company at a price of CAD 0.04 per share for a period of one year thereafter, all subject to Exchange approval.

Upon conversion in the first year, each Unit will consist of one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of CAD 0.05 per common share for a period of one year from the issuance of the Notes. The transaction will include participation from an insider.

All securities issued in connection with the Offering will be subject to a statutory and Exchange hold period of four months and a day commencing from the date of issuance. The closing of the Offering is subject to regulatory approval, including Exchange acceptance.