ATW Tech Inc. announced a private placement of 24,333,333 units of the company at a price of CAD 0.03 per unit for the gross proceeds of CAD 730,000 on August 30, 2023. Each unit consists of one common share and one warrant entitling the holder to acquire one share at an exercise price of CAD 0.05 for a period of 36 months from the closing date. The shares issued pursuant to the transaction are subject to a period of restricted trading of four months, in accordance with the applicable securities legislation.

The transaction has been approved by the independent directors of the company and is subject to the final approval of the TSX Venture Exchange.