X1 Entertainment Group Inc. announced a non-brokered private placement of up to 7,142,857 units at an issue price of CAD 0.07 per unit for gross proceeds of up to CAD 499,999.99 on December 27, 2023. Each unit will be comprised of one common share and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of CAD 0.10 per warrant share for a period of 24 months from the date of closing.

All securities issued in connection with the transaction will be subject to a statutory hold period of four months and one day following the closing date of the transaction. The transaction may close on one or more dates as the company may determine.