ATW Tech Inc. announced a non-brokered private placement of up to 11,700,000 units of the Company at a price of CAD 0.05 per unit for gross proceeds of up to CAD 585,000 on November 15, 2022. Each unit consists of one common share in the capital of the company and one common share purchase warrant giving the holder the right to subscribe for one common share at a price of CAD 0.08 for a period of 36 months following the closing date. The private placement is scheduled to close on or about November 21, 2022.

The securities issued pursuant to the transaction shall be subject to a period of restricted trading of four months, in accordance with the applicable securities legislation. In addition, the transaction is subject to the approval of the TSX Venture Exchange.