Ultra Brands Ltd. announced a non-brokered private placement of 10,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 500,000 on July 28, 2022. Each unit consist of one common share and one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share in the capital of the company at a price of CAD 0.05 per share, for a period of twelve months.