Carebook Technologies Inc. announced a non-brokered private placement of up to 12,500,000 units at the price of CAD 0.10 per unit for gross proceeds of up to CAD 1,250,000 on May 15, 2023. Each Unit will consist of one common share and 0.015 common share purchase warrant. Each whole Warrant will entitle its holder to acquire, on payment of CAD 0.15 to the Company, one Common Share for a period ending on the second anniversary of the Closing Date.

The transaction will include participation from returning investor UIL Limited, a fund managed by ICM Limited. The closing of the transaction is subject to certain conditions, including the approval of the TSX Venture Exchange and certain other conditions customary to a transaction of this nature. All securities issued pursuant to the transaction will be subject to a statutory four month and one day hold period from the Closing Date.

The transaction is expected to close on May 17, 2023.