Sproutly Canada Inc. announced a private placement of 6,666,666 units at a price of CAD 0.015 per unit for gross proceeds of CAD 100,000 on September 1, 2022. Each unit consisting of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at an exercise price of CAD 0.05 for a period of two years from the date of issue.

All securities issued in connection with the private placement are subject to a four month and a day transfer restriction from the date of issuance. The private placement is subject to the approval of the Canadian Securities Exchange. The company paid finder's fees in the amount of CAD 8,000 through the issuance of 552,500 units on the same terms as described above.