Peekaboo Beans Inc. announced a non-brokered private placement of 1,500 convertible debentures units at a price of CAD 1,000 per unit for proceeds of CAD 1,500,000 and a non-brokered private placement of 15,000,000 units at an issue price of CAD 0.10 per unit for proceeds of CAD 1,500,000 and for an aggregate gross proceeds of CAD 3,000,000 on July 29, 2021. Each convertible debenture unit will be offered at price of CAD 1,000 and will be comprised of one unsecured debentures with a principal amount of CAD 1,000 each and 5,000 common share purchase warrants of the company. Each warrant will entitle the holder to acquire one common share at a price of CAD 0.15 per share for a period of two years from the closing date of offering. The debentures will mature on July 28, 2025 and be repayable on the date that is four years from the closing date. The debentures will bear interest at a rate of 12% per annum until maturity, which will be calculated and payable semi-annually on the last day of June and December in each year. The principal amount of debentures and any accrued and unpaid interest will be convertible into common shares at a conversion price of CAD 0.10. Each unit consist of one common share and one common share purchase warrant, entitling the holder thereof to acquire one additional common share at an exercise price of CAD 0.15 for a period of three years from the closing date. A portion of the equity offering may be conducted as a settlement of outstanding debt. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

On the same date the company has issued 125 convertible debentures units for gross proceeds of CAD 125,000 in its first tranche. The company has issued 83,333 finders' warrants, exercisable at CAD 0.12 into common shares for a period of two years from closing and paid $10,000 in cash commission. All the securities issued in the transaction are subject to a hold period expiring on November 29, 2021.