Quebec Innovative Materials Corp. announced a non-brokered private placement of 17,500,000 units at a price of CAD 0.03 per unit for the gross proceeds of CAD 525,000 on April 29, 2024. Each unit will consist of one common share in the capital of the company and one common share purchase warrant.

Each warrant will entitle the holder thereof to purchase one common share of the company for a period of 24 months following the closing date of the offering at an exercise price of CAD 0.05 per warrant share. In connection with the offering, the company may pay finder's fees and issue finder shares and finder warrant consisting of cash finder's fees of up to 7% of the gross proceeds of the offering, finder shares in an amount equal to up to 7% of the number of units issued pursuant to the offering, finder warrants in an amount equal to up to 7% of the number of units issued pursuant to the offering, exercisable at a price of CAD 0.05 per common share for a period of 24 months. The offering is scheduled to close on or about May 31, 2024 and completion of the offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.