Softlab9 Software Solutions Inc. announced a non-brokered private placement of up to 7,500,000 units at a price of CAD 0.40 per unit for gross proceeds of up to CAD 3,000,000 on February 1, 2021. Each unit will consist of one common share and one half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of CAD 0.70 per warrant for a period of 18 months from the date of issuance. Following the expiry of the resale restrictions on the units, if the closing price of the common shares on the Canadian Securities Exchange for 10 consecutive trading days is equal to or greater than CAD 1 per share, the company may accelerate the expiry time of the warrants by giving written notice within 10 days to warrant holders that the warrants will expire 30 days from the effective date of the notice. The company may also pay finder's fees in the transaction. All securities issued in the transaction are subject to four-month hold period.