Arway Ltd announced a brokered private placement of a minimum of 6,000,000 subscription receipts at a price of CAD 0.25 per Subscription Receipt to raise aggregate gross proceeds of a minimum of CAD 1,500,000on June 1, 2022. The transaction will included participation from PC 1 Corp. The company will issue units in the transaction.

Each Unit being comprised of one PC 1 Post-Consolidation Share and one share purchase warrant with each Warrant being exercisable to acquire one additional PC 1 Post-Consolidation Share at an exercise price of CAD 0.50 for a period of three years from the date of issuance. The transaction is subject to approval of TSX Venture Exchange, regulatory authorities, and majority of the minority shareholder. The transaction is expected to close prior to July 31, 2022.