Sherpa II Holdings Corp. announced a non-brokered private placement of 3,125,000 units at a price of CAD 0.04 for the gross proceeds of up to CAD 1,25,000 on June 29, 2023. Each Unit will consist of one common share and one common share purchase warrant.

Each warrant will entitle the holder thereof to purchase one additional common Share at an exercise price of CAD 0.05 for a period of 36 months from the closing of the transaction. The securities issued will be subject to a four month and one day hold period from the closing date in accordance with applicable securities laws. The transaction is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.