Tiidal Gaming Group Corp. announced a a non-brokered private placement of 5,000,000 units at issue price of CAD 0.10 per unit for gross proceeds of CAD 500,000 on August 23, 2022. Each unit consists of one common share and one common share purchase warrant.

Each warrant will entitle the holder to purchase one common share of the company at an exercise price of CAD 0.15 per warrant share for a period of 3 years from the closing of the transaction. The securities to be issued in the transaction will have a hold period of four month and one day from the closing of the transaction. The company will pay finders fees of 7% of the gross proceeds of the units sold and warrants.

Each finders warrants can be exercised to purchase shares at exercise price of CAD 0.10 per warrant for a period of 3 years from the closing of the transaction. The first closing of the transaction is expected to close on or before August 31, 2022. The transaction is subject to approval from Canadian Securities Exchange and other regulators.