Canada Energy Partners Inc. announced that a private placement of convertible debentures for gross proceeds of up to CAD 150,000 on April 4, 2023. The convertible debentures will be non-interest bearing and will have a maturity date of 12 months, and the principal amount may at the option of a holder be converted into units consisting of a common share at an issuance price of CAD 0.05 and a share purchase warrant entitling the holder thereof to acquire an additional common share at an exercise price of CAD 0.075 for a period of 12 months. Subject to approval of the TSX Venture Exchange, the corporation may pay a finder's fee in cash or finders' warrants to arm's-length finders in amounts to be negotiated. All securities to be issued in connection with the private placement will be subject to a four-month hold period from the date of issue in accordance with applicable securities laws. Completion of the private placement is subject to approval of the exchange.

On May 2, 2023, the company announced that the convertible debentures provide that the principal amount may at the option of a holder be converted into units consisting of a common share at an issuance price of CAD 0.03 and a share purchase warrant entitling the holder thereof to acquire an additional common share at an exercise price of CAD 0.05.