Cavalry Capital Corp. announced a non brokered private placement of at least 15,000,000 units at a price of CAD 0.10 per Cavalry Unit for aggregate gross proceeds of CAD 1,500,000 on July 11, 2023. Each Cavalry Unit will be comprised of one Cavalry Share and one common share purchase warrant.

Each Warrant shall entitle the holder to purchase a Share at an exercise price of CAD 0.15 for a period of 2 years from the date of issuance and in accordance with its terms. The company may pay finder?s fees in cash or securities in connection with the Private Placement. All securities issued under the Private Placement will be subject to hold periods expiring four months and one day after the date of issuance. Additional restrictions may apply under the rules of the TSXV and applicable securities laws.

In connection with the transaction, the company entered into a finder?s fee agreement with Circa Capital Corp. an arm?s length party, for the introduction of Cavalry and Home Run. The company has agreed to issue the Finder 3,325,000 Shares upon closing of the Qualifying Transaction, subject to the approval by the TSXV.