Carcetti Capital Corp. announced a non-brokered private placement of up to 4,166,667 units at the price of CAD 0.12 per unit for gross proceeds of up to CAD 500,000 on May 16, 2023. Each Unit consisting of one common share and one-half of one common share purchase warrant, each whole warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.18 per share for a period of 12 months from closing.

The common shares forming part of the Units and any shares issued upon the exercise of the Warrants are subject to a hold period that expires four months from closing. The company did not pay any finder’s fees in connection with the financing. The transaction included participation from 13 placees including certain directors and officers of the Company acquired 441,667 of the Units in the transaction.

GPO Holdings Corp invested CAD 81,000 for 675,000, and Universal Solutions Inc invested CAD 75,000 for 625,000 units in the transaction and pro group for 725,000 units.