TraceSafe Inc. announced a non-brokered private placement of up to 3,333,333 units at a price of CAD 0.15 per share for gross proceeds of up to CAD 500,000 in August 16, 2022. Each unit will consist of one common share and one whole non-transferable common share purchase warrant. Each Warrant will entitle the holder to acquire one Common Share at an exercise price of CAD 0.30 for a period of twenty-four months from closing of the Offering.

The company paid finders' fees on a portion of the Offering in accordance with applicable securities laws and the policies of the Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period of four month plus one day from the date of issuance in accordance with applicable securities laws. The transaction is subject to conditional acceptance of the Canadian Securities Exchange.