Refined Energy Corp. announced a private placement to issue 2,000,000 units at an issue price of CAD 0.10 per unit for the gross proceeds of CAD 200,000 on May 23, 2024, Each Unit being comprised of one Share and one Share purchase warrant of the Company entitling the holder to acquire one Share at a price of CAD 0.13 per Warrant Share for a period of twenty-four months from the date of issuance. All securities issued in the Offering and pursuant to the Debt Settlement will be subject to a statutory four month and one day hold period.

Closing of the Offering and the Debt Settlement is subject to certain customary conditions precedent, including the Company's receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange. The Offering and the Debt Settlement are expected to close on or about May 31, 2024.