SQI Diagnostics Inc. announced that it intends to complete a non-brokered private placement of up to 11,111,112 units at a price of CAD 0.09 per unit for gross proceeds of up to CAD 1,000,000.08 on November 24, 2022. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of CAD 0.12 for a period of sixty months from the date of issuance.

The private placement may be completed in one or more tranches. The private placement is subject to all necessary regulatory and stock exchange approvals and may close in one or more tranches, with the first tranche expected to close on or about December 1,2022. The securities being issued pursuant to the private placement will be subject to a hold period expiring four months and one day from the date of issuance in accordance with applicable Canadian securities law.