Till Capital Corporation announced a non-brokered private placement of a convertible note for gross proceeds of CAD 675,000 on December 9, 2022. The transaction included participation from one placee. The convertible note matures on December 6, 2023, and bears interest of 1.25% per month up to and including March 6, 2023, compounded, 1.75% per month from March 7, 2023, to June 6, 2023, compounded and 2% per month from June 7, 2023, to maturity, compounded.

The convertible note is convertible into common shares on maturity at the holder's option at the greater of the 30-day VWAP prior to maturity and convertible into shares consisting of 123,400 common shares at CAD 5.47 per share. Interest accrued on the convertible note may be paid in shares at the election of the holder but will be subject to TSXV approval at the time of such election, including approval of conversion pricing. The convertible note and any shares issued in payment of interest are subject to a four-month resale restriction from their respective dates of issuance, which in the case of the convertible note will conclude on April 9, 2023.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.