Turnium Technology Group Inc. announced a brokered private placement of up to aggregate gross proceeds of CAD 3,500,000 on July 12, 2023. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share at a price to be determined in the context of the market which is subject to adjustment in certain events for a period of 36 months following the closing date of the offering.

Upon closing of the offering, the company shall pay to the agents a cash commission equal to up to 7% of the aggregate gross proceeds of the offering payable in cash or units, or any combination of cash or units at the option of the lead agent and non-transferrable warrants of the company exercisable at any time prior to the date that is 36 months from the closing date to acquire that number of units equal to 7% of the number of units issued under the offering at an exercise price equal to the issue price which is subject to adjustment in certain events. The transaction is subject to the approval of the receipt of all necessary regulatory approvals. The transaction is expected to close on or about July 28, 2023.