FendX Technologies Inc. announced that it has completed a private placement of 13,338,000 subscription receipts at a price of CAD 0.30 for the gross proceeds of CAD 4,001,400 on April 28, 2022. Subscription receipt automatically converted into one unit. Each Unit consists of one common share and one-half of one transferable share purchase warrant.

Each Warrant entitles the holder to purchase an additional common share at an exercise price of CAD 0.50 per share until February 1, 2025, subject to an acceleration right of the company. The company paid finders fees totaling CAD 112,752 in cash and 609,680 common shares. The company also issued an aggregate of 985,520 broker warrants to finders.

Subscription receipt private placement were being held in escrow by Endeavor Trust Corporation, as the subscription receipt escrow agent.