Jasper Commerce Inc. announced it has completed non-brokered private placement of units and has received CAD 115,500 on December 22, 2023. Each Unit is comprised of CAD1,000 principal amount of 15% secured convertible debentures issued by the Company with a maturity date of three years from the date of issuance and 19,000 common share purchase warrants of the company. The Offering received the conditional approval of the TSX Venture Exchange prior to closing but is subject to the final approval of the Exchange.

All securities issued pursuant to the Offering are subject to a four-month hold period until April 22, 2024. Insiders purchased a total of 10.5 Units. The principal amount of the debentures less a 5% closing fee are convertible into common shares of Jasper at a conversion price of CAD 0.05 per share for one year, and at CAD 0.10 per share thereafter.

The Debentures are secured obligations of the Company and will have a floating charge over the Company's assets and will rank pari passu with the CAD 900,000 of secured convertible debentures issued by the Company between February and April of 2023.Each Warrant is exercisable into one common share in the capital of the Company at an exercise price of CAD 0.05 for a period of five years following the closing date of the Offering.