Tribe Property Technologies Inc. announced a non-brokered private placement of up to 6,730,770 units at a price of CAD 0.52 per Unit to raise aggregate gross proceeds of up to CAD 3,500,000.4 on May 27, 2024. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of CAD 0.82 at any time on or before that date which is five years after the closing date of the financing.

The transaction is led by new investor Propelr Growth for 4,615,385 units for aggregate gross proceeds of CAD 2,400,000. The transaction will also include participation by the operators of DMSI Holdings Ltd. Closing of the Financing is subject to certain conditions including, but not limited to, the receipt applicable regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued under the Financing are subject to a hold period expiring four months and one day from the closing date.