Ambari Brands Inc. announced non-brokered private placement of 2,000,000 units at a price of CAD 0.25 per unit for an aggregate gross proceeds of CAD 500,000 on February 27, 2023. Each Unit is composed of one common share of the company and one-half of one common share purchase warrant, each such warrant entitling the holder to acquire one additional common share for a period of one year from the date of issuance at an exercise price of CAD 0.35 per common share. Finder's fees of CAD 28,000 were paid and 112,000 finder's warrants were issued in connection with the Private Placement.

Each finder's warrant is exercisable at CAD 0.35 for a period of one year from the date of issuance. All securities issued in connection with the Private Placement are subject to a statutory hold period expiring four months and one day from issuance.