Cavalry Capital Corp. announced a private placement to issue 18,500,000 units at an issue price of CAD 0.10 per unit for the gross proceeds of CAD 1,850,000 on April 21, 2023. Each Unit will be comprised of one Cavalry Share and one common share purchase warrant.

Each Cavalry Warrant will be exercisable for a period of two years and be exercisable to purchase one Cavalry Share at a price of CAD 0.15 per share. Completion of the Transaction is subject to the satisfaction of customary closing conditions, including the satisfactory completion of due diligence by each of Cavalry and Home Run, receipt of all required approvals and consents relating to the Transaction, including without limitation, any required approvals of the shareholders of Cavalry and Home Run, required approval of the TSXV and other approvals under applicable corporate or securities laws, completion of the transaction and the TSXV's approval for listing the shares of the Resulting Issue