Royalties Inc. announced a non-brokered private placement of 11,000,000 common shares at the price of CAD 0.05 per common share for gross proceeds of CAD 550,000 on April 12, 2023. The transaction will include participation from a director and a new investor Music Royalties Inc. All securities issued in connection with the transaction will be subject to a four month hold period from the date of issuance of securities. The transaction is expected to close on or about April 30, 2023 but may close earlier or later.

Closing of the Offering is also subject to CSE final acceptance.