Nurosene Health Inc. announced that it has received its first tranche of a non-brokered private placement of 2,910,000 units at a price of CAD 0.25 per unit for aggregate gross proceeds of CAD 727,500 October 14, 2022. Each of the units is comprised of one common share and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share at a price of CAD 0.40 for a period of 36 months from the closing date.

The transaction included participation from two directors and one officer of purchased, indirectly, an aggregate of 840,000 units for a total consideration of CAD 210,000. In connection with the closing of the private placement, the company paid finder's fee commissions in the aggregate amount of CAD 34,475 and issued 137,900 broker warrants. Each broker warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.40 per share for a period of 36 months from the closing date.

The securities issued by the company in connection with this financing will be subject to a 4-month and a day hold period expiring February 14, 2023. As a result of closing the private placement, there are 45,431,102 common shares of issued and outstanding.