New Leaf Ventures Inc announced a non-brokered private placement of 15,000,000 units at CAD 0.10 per unit for gross proceeds of up to CAD 1,500,000 on December 8, 2022. Each unit will consist of one common share and one transferable share purchase warrant with each warrant entitling the holder thereof to acquire one Common Share at a price of CAD 0.20 per share until twenty four months following closing of the transaction. The company may pay the finder's fees equal to 7% of the aggregate gross proceeds and non-transferable compensation options to purchase that number of common shares as is equal to 7% of the number of units sold in the transaction at an exercise price of CAD 0.10 per share exercisable for a period of twenty four months from closing.

All securities issued pursuant to the transaction will be subject to a Canadian four-month hold period.