X1 Entertainment Group Inc. announced a non-brokered private placement of 3,000,000 units at a price of CAD 0.25 per unit for the gross proceeds of CAD 750,000 on April 5, 2024. Each unit will consist of one common share of the company and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of CAD 0.4 per warrant share for a period of 24 months from the date of closing.

The offering may close on one or more dates as the company may determine. The company may pay a finder's fee in connection with the offering to eligible arm's-length finders in accordance with the policies of the Canadian Securities Exchange. All securities issued in connection with the offering will be subject to a statutory hold period of four months and one day following the closing date in accordance with applicable Canadian securities laws.