Pioneer Media Holdings Inc. announced a non-brokered private placement of 10,000,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 1,000,000 on October 5, 2022. Each unit is comprised of one common share and one-half of a transferable common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the company for a period of 24 months following the transaction closing at an exercise price of CAD 0.25.

The company may pay a finder's fee in connection with the transaction to eligible finders comprised of a fee payable in cash equal to up to 6.0% of the gross proceeds raised in the transaction from investors introduced by the applicable finder and such number of transferrable warrants that is equal to up to 6.0% of the number of units sold to investors introduced by such finder. Each Finders warrant will be exercisable into one common share of the company at a price equal to CAD 0.10 per share for a period of 24 months from issuance. The closing of the transaction is subject to certain customary conditions, including the receipt of all necessary regulatory approvals and acceptance of the NEO Exchange.

All securities issued under the transaction will be subject to a statutory four month hold period following the date of closing of the transaction.