Cansortium Inc. announced a non-brokered private placement of 30,000,000 units at an issue price of $0.10 per unit for proceeds of $3,000,000 on February 28, 2023. The transaction included participation from Sage Investing Ltd for 10,000,000 units, returning investor, Brian W Brady Trust No 1 for 20,000,000 units along with director and the Executive Chairman of the company, William Smith. Each unit is comprised of one common share and one-half of one common share purchase warrant.

Each Warrant will entitle the holder to purchase one Share at an exercise price of $0.15 per Share for a period of 36 months following the closing date of the Offering. All of the securities issuable in connection with the Offering are subject to a hold period expiring four months and one day after the date of issuance in accordance with Canadian securities laws.