White River Energy Corp. announced that it has entered into a Securities Purchase Agreement with accredited investors to issue 1,618,794 Units at an issue price of $0.777 per Unit for a total purchase price of $1,257,802.938 on December 13, 2023. Each Unit consisting of one share of the Company?s common stock (for a total of 1,618,794 shares of common stock) and and five-year warrants to two shares of Common Stock (for a total of 3,237,588 Warrants).

Each Warrant will be exercisable at $1.00 per share for a period of five years from the earlier of the effectiveness of a registration statement registering the resale of the common stock issuable upon exercise of such Warrants and December 31, 2023. The offer and sale of the Units pursuant to the SPA was not registered under the Securities Act of 1933 and was exempt from registration pursuant to Section 4(a)(2) thereof and Rule 506(b) promulgated thereunder. The transaction is expected to close on December 18, 2023.