Alset Capital Inc. announced a non-brokered private placement of up to 19,333,333 units of the company at an issue price of CAD 0.03 per unit for gross proceeds of up to CAD 579,999.99 on September 12, 2023. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire an additional common share in the capital of the company at an exercise price of CAD 0.05 per warrant share subject to adjustment in certain circumstances for a period of 12 months from the date of issuance.

In connection with the offering, the company may pay finders? fees in cash or securities, or a combination thereof, to certain finders, as permitted by the policies of the Exchange. The securities issued pursuant to the offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

Closing of the offering and issuance of the units are subject to a number of conditions, including receipt of all necessary regulatory and corporate approvals, including approval from the Exchange.