nFinanSe Inc. announced a non-brokered private placement of 10,000,000 non-flow-through units at a price of CAD 0.50 per unit for gross proceeds of up to CAD 5,000,000, and 4,615,385 flow-through units at a price of CAD 0.65 per unit for gross proceeds of up to CAD 3,000,000; for aggregate gross proceeds of up to CAD 8,000,000. Each non-flow-through unit consist of one non-flow-through common share and one non-flow-through common share purchase warrant entitling the holder to acquire one share at a price of CAD 0.75 per warrant share for a period of 24 months. Each flow-through unit consist of one flow-through common share and one flow-through common share purchase warrant entitling the holder to acquire one share at a price of CAD 0.85 per warrant share for a period of 24 months.

All securities issued will be subject to a statutory four month hold period. The closing of the transaction is subject to receipt of all regulatory approvals, including approval of the Canadian Securities Exchange. The transaction is expected to close on or about October 7, 2022.