MyndTec Inc. announced a non-brokered private placement of up to 1,333,333 units of the company at a price of CAD 0.75 per unit for aggregate gross proceeds of up to CAD 1,000,000 on November 9, 2022. Each unit shall be comprised of one common share and one common share purchase warrant, whereby each warrant will be exercisable to acquire one common share at an exercise price of CAD 0.90 per warrant share for a period of 36 months following the closing date. The company has an option, exercisable in whole or in part by the Company, to sell up to an additional number of Units at the Issue Price for additional aggregate gross proceeds to the Company of up to CAD 200,000.

The transaction may be completed in one or a number of closings on a date or dates to be determined by the Company and is subject to, among other things, the receipt of all necessary approvals, including from the CSE, and the execution of definitive documentation. The units may be offered to investors from Canada and Unites States. The units will be subject to a hold period of four months if issued in Canada.