The Hash Corporation announced a non-brokered private placement offering convertible debentures for gross proceeds of up to CAD 500,000 on May 31, 2022. Each debenture to be issued in the principal amount of CAD1,000, bearing interest at a rate of 3%, and maturing on the date that is 12 months from the date of closing of the transaction. The principal sum of the debentures, or any portion thereof, will entitle the holder thereof to acquire one common share in the company at the price of CAD 0.05 per common share on conversion.

And additional consideration, the company has agreed to pay the holders of the debentures CAD 0.20 per gram in retail sales of their products, as a royalty, until 57% of the principal amount of their debenture. All securities issued in connection with the financing are subject to a four-month plus one day from the date of issuance, in accordance with applicable securities legislation. The transaction may participation certain directors, officers, and insiders of the company.