Medivolve Inc. announced a non-brokered private placement of 26,666,666 common shares at an issue price of CAD 0.15 per share for the gross proceeds of CAD 4,000,000 on January 19, 2023. All securities issued in connection with the transaction will be subject to a statutory hold period of four-months and one day. Completion of the transaction is subject to a number of conditions, including final approval of the Neo Stock Exchange.

No finder fees are anticipated to be paid as part of the transaction. The transaction is expected to close on or before January 31, 2023.