VIP Entertainment Technologies Inc. announced a non-brokered private placement of up to 25,000,000 units at a price of CAD 0.03 per unit for the gross proceeds of CAD 750,000 on July 15, 2024. Each unit will comprise of one common share of the Company and one half share purchase warrant. Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of CAD 0.08 for a period of 18 months from the date of issuance.

The Company does not intend to list the Warrants for trading. Upon closing of the Offering, the Company may pay to eligible third parties a finder's fee of up to 8% of the aggregate gross proceeds of the Offering in consideration for the introduction of subscribers to the offering. The Company has received commitments in excess of CAD 400,000 in regards to the Offering.

The offering is scheduled to close on or about August 15, 2024 and completion of the Offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.