Pure Extracts Technologies Corp. announced non-brokered private placement of 5,937,001 special warrants at a price of CAD 0.075 per warrant for gross proceeds of CAD 445,275 to accredited investors on March 8, 2022. The special warrants will convert into units upon the earlier of the receipt for a final prospectus qualifying the distribution of the units or four months and a day from the final closing date of the transaction.

Each unit will consist of one common share and one common share warrant, with each whole warrant is exercisable at CAD 0.15 per share for a period of 24 months following the deemed exercise date of the warrants. A finder's fees of CAD 14,169 cash and 188,930 finder's warrants were paid and issued in conjunction with the transaction. Each finder's warrant entitles the holder thereof to purchase one common share of the company at an exercise price of CAD 0.15 per finder's warrant share until March 7, 2024.

All securities issued under the transaction will be subject to a statutory 4-month plus one day hold period, which expires on July 8, 2022, in accordance with applicable Canadian securities laws. Three insiders of the company subscribed for a total of 656,666 special warrants in connection with the transaction.