Moon River Capital Ltd. announced a non-brokered private placement to issue a minimum of 8,000,000 Subscription Receipts and maximum of 10,000,000 Subscription Receipts at an issue price of CAD 0.25 per subscription receipt for the minimum gross proceeds of CAD 2,000,000 and maximum of CAD 2,500,000 on September 13, 2023. Each Subscription Receipt will automatically convert into one common share in the capital. The transaction is subject to all required board and regulatory approvals in connection with the Offering.

Completion of the Offering is subject to the satisfaction of the Escrow Release Conditions as described above. All securities issued in connection with the Offering will be subject to applicable resale rules in accordance with applicable securities legislation. In connection with the Offering, the company may pay certain eligible to the Finders a cash commission equal to 7% of the gross proceeds of the Offering.