XPhyto Therapeutics Corp. announced a non brokered private placement for maximum of 10,000,000 units at an issue price of CAD 0.36 per unit gross proceeds of a maximum of CAD 3,600,000 on July 22, 2022. Each Unit will consist of one common share and one half of one common share purchase warrant.

Each Warrant will entitle the holder to acquire one Common Share at an exercise price of CAD 0.50 per Warrant Share for a period of 24 months from the date of issuance. The Offering is anticipated to result in a maximum of 10,000,000 Units of the Company being issued, and the Offering may close in one or more tranches. In connection with the Offering, eligible parties may receive a cash finder's fee payment equal to up to 8% of the gross proceeds of the Units that are sold to subscribers introduced by such parties, and warrants to purchase that number of Common Shares equal to up to 8% of the Units that are sold to subscribers introduced by such parties, with each Finder's Warrant being exercisable for one Finder's Warrant Share at a price of CAD 0.50 per Finder's Warrant Share for a period of 24 months from the closing of the Offering.

All the securities to be issued are subject to a hold period of four months and one day from the closing of the transaction.