VOTI Detection Inc announced a brokered private placement of up to 19,047,620 units at CAD 0.21 per unit for gross proceeds of up to approximately CAD 4,000,000 on February 17, 2022. The transaction will include participation from accredited investors. Each unit will consist of one common share and one-half of one common share purchase warrant.

Each warrant entitles the holder thereof to acquire one common share at a price of CAD 0.27 per common share for a period of 24 months from the closing date of the transaction. The transaction is expected to close on or about March 8, 2022. The company will pay a finder's fee equal to 8% of the aggregate gross proceeds of the transaction, and will issue broker warrants equal to 8.% of the number of units sold under the transaction, each exercisable to acquire one common share at a price of CAD 0.42 per common share for a period of 24 months from the closing date of the transaction.